2 weeks Ago By ABMN Staff
Morgan Stanley upgraded shares of Cadence Bank ( NYSE:CADE – Free Report ) from an equal weight rating to an overweight rating in a report issued on Monday, MarketBeat reports. They currently have $39.00 price target on the stock, up from their previous price target of $36.
00. CADE has been the subject of several other reports. Piper Sandler cut shares of Cadence Bank from an overweight rating to a neutral rating and boosted their price objective for the company from $33.
00 to $34.00 in a research report on Wednesday, July 24th. Stephens restated an overweight rating and issued a $35.
00 price target on shares of Cadence Bank in a report on Tuesday, July 23rd. Hovde Group boosted their price objective on shares of Cadence Bank from $33.00 to $36.
50 and gave the stock an outperform rating in a research note on Wednesday, July 24th. Jefferies Financial Group cut their price target on shares of Cadence Bank from $31.00 to $29.
00 and set a hold rating on the stock in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their price objective on shares of Cadence Bank from $31.00 to $35.
00 and gave the company a sector perform rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $34.
88. Check Out Our Latest Report on CADE Cadence Bank Price Performance Cadence Bank ( NYSE:CADE – Get Free Report ) last announced its earnings results on Monday, July 22nd. The company reported $0.
69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08.
The business had revenue of $742.87 million during the quarter, compared to analysts’ expectations of $439.63 million.
Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%.
During the same period in the prior year, the company earned $0.64 earnings per share. Analysts anticipate that Cadence Bank will post 2.
55 earnings per share for the current fiscal year. Cadence Bank Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.
25 dividend. This represents a $1.00 annualized dividend and a yield of 3.
14%. The ex-dividend date of this dividend is Friday, September 13th. Cadence Bank’s dividend payout ratio is presently 31.
95%. Institutional Inflows and Outflows A number of large investors have recently modified their holdings of CADE. GAMMA Investing LLC boosted its position in 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 acquiring an additional 436 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Cadence Bank by 5.
6% during the 2nd quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company’s stock worth $307,000 after purchasing an additional 579 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Cadence Bank by 0.
3% during the 1st quarter. Retirement Systems of Alabama now owns 229,380 shares of the company’s stock worth $6,652,000 after purchasing an additional 602 shares in the last quarter. Russell Investments Group Ltd.
raised its stake in shares of Cadence Bank by 0.3% during the 1st quarter. Russell Investments Group Ltd.
now owns 230,377 shares of the company’s stock worth $6,681,000 after purchasing an additional 689 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Cadence Bank by 1.9% during the 2nd quarter.
Arizona State Retirement System now owns 51,159 shares of the company’s stock worth $1,447,000 after purchasing an additional 938 shares in the last quarter. 84.61% of the stock is 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. Featured 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 ..
