1 week Ago By ABMN Staff
Cadence Bank ( NYSE:CADE – Free Report ) had its price objective reduced by Barclays from $44.00 to $38.00 in a research report sent to investors on Tuesday, Benzinga reports.
They currently have an overweight rating on the stock. Several other research firms have also issued reports on CADE. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.
00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd.
Hovde Group lowered their price target on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 2nd.
Morgan Stanley reduced their price objective on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th.
Finally, Citigroup boosted their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th.
Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $38.09.
Read Our Latest Report on Cadence Bank Cadence Bank Stock Down 0.7 % Cadence Bank ( NYSE:CADE – Get Free Report ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.
70 earnings per share for the quarter, topping the consensus estimate 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 business posted $0.40 earnings per share. As a group, research analysts expect that Cadence Bank will post 2.
94 EPS for the current year. Cadence Bank Increases Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.
275 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.
10 dividend on an annualized basis and a dividend yield of 4.19%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.
25. Cadence Bank’s payout ratio is 39.71%.
Institutional Investors Weigh In On Cadence Bank Several large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Cadence Bank by 4,615.4% during the first quarter.
GAMMA Investing LLC now owns 87,801 shares of the company’s stock valued at $2,892,000 after acquiring an additional 85,939 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of Cadence Bank by 6.4% in the 1st quarter.
Moody National Bank Trust Division now owns 38,176 shares of the company’s stock valued at $1,159,000 after purchasing an additional 2,310 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Cadence Bank during the 4th quarter valued at about $794,000.
Mackenzie Financial Corp grew its stake in Cadence Bank by 122.5% during the fourth quarter. Mackenzie Financial Corp now owns 300,652 shares of the company’s stock worth $10,357,000 after purchasing an additional 165,509 shares during the period.
Finally, Forum Financial Management LP bought a new stake in Cadence Bank in the fourth quarter worth approximately $216,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
About Cadence Bank ( Get Free Report ) 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. Recommended Stories Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.
com's FREE daily email newsletter ..
