Morgan Stanley Lowers Cadence Bank (NYSE:CADE) Price Target to $42.00

Cadence Bank (NYSE:CADE) had its price target decreased by equities researchers at Morgan Stanley from $46.00 to $42.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 42.23% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Citigroup boosted their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.77.

Cadence Bank Trading Up 0.3 %

CADE traded up $0.10 during trading on Thursday, reaching $29.53. 286,803 shares of the company were exchanged, compared to its average volume of 1,189,561. The stock has a market cap of $5.38 billion, a P/E ratio of 10.66 and a beta of 0.96. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The firm has a 50 day moving average of $33.96 and a 200 day moving average of $34.12.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the previous year, the firm posted $0.40 EPS. As a group, analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Institutional Trading of Cadence Bank

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Cadence Bank by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company’s stock valued at $705,821,000 after buying an additional 191,717 shares in the last quarter. FMR LLC grew its stake in Cadence Bank by 1.2% during the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock worth $523,074,000 after buying an additional 195,773 shares during the last quarter. State Street Corp increased its holdings in shares of Cadence Bank by 1.9% during the third quarter. State Street Corp now owns 8,872,085 shares of the company’s stock worth $284,759,000 after buying an additional 165,282 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after acquiring an additional 39,679 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Cadence Bank by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,684,312 shares of the company’s stock worth $92,475,000 after acquiring an additional 350,660 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.