Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Cadence Bank (NYSE:CADE) Stock

Cadence Bank (NYSE:CADE) had its price target raised by Keefe, Bruyette & Woods from $38.00 to $45.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 19.46% from the stock’s current price.

A number of other research analysts also recently issued reports on CADE. Royal Bank of Canada lifted their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $39.00 in a report on Monday, September 30th. DA Davidson raised their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial raised their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and a consensus target price of $36.29.

Cadence Bank Stock Up 0.4 %

Shares of NYSE CADE traded up $0.14 during midday trading on Wednesday, hitting $37.67. The company’s stock had a trading volume of 93,681 shares, compared to its average volume of 1,314,813. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The business’s fifty day simple moving average is $34.73 and its two-hundred day simple moving average is $31.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 10.82 and a beta of 0.98.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts predict that Cadence Bank will post 2.71 EPS for the current year.

Hedge Funds Weigh In On Cadence Bank

Several institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Cadence Bank during the 3rd quarter worth $25,000. GAMMA Investing LLC boosted its position in shares of Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after purchasing an additional 436 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Cadence Bank during the 3rd quarter worth $32,000. Innealta Capital LLC purchased a new stake in shares of Cadence Bank during the 2nd quarter worth $138,000. Finally, TD Private Client Wealth LLC boosted its position in shares of Cadence Bank by 23.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock worth $158,000 after purchasing an additional 926 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

About Cadence Bank

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.