Cadence Bank (NYSE:CADE) Reaches New 52-Week High – Should You Buy?

by · The Cerbat Gem

Cadence Bank (NYSE:CADE – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.24 and last traded at $41.9350, with a volume of 387908 shares. The stock had previously closed at $41.50.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CADE shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Stephens lowered Cadence Bank from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 28th. Morgan Stanley cut Cadence Bank from an “overweight” rating to a “sell” rating in a research report on Tuesday, October 28th. Barclays lowered shares of Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods downgraded shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and increased their price target for the company from $41.00 to $49.00 in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.33.

Get Our Latest Stock Analysis on CADE

Cadence Bank Price Performance

The firm has a market cap of $7.68 billion, a PE ratio of 15.24 and a beta of 0.96. The business has a 50-day moving average price of $38.37 and a two-hundred day moving average price of $35.84.

Cadence Bank (NYSE:CADE – Get Free Report) last released its quarterly earnings data on Monday, October 20th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. The business had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. During the same period in the previous year, the firm earned $0.73 EPS. Equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, December 15th. Cadence Bank’s dividend payout ratio (DPR) is 39.86%.

Institutional Investors Weigh In On Cadence Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in Cadence Bank during the second quarter worth $25,000. Mather Group LLC. purchased a new stake in Cadence Bank during the 3rd quarter worth about $26,000. Advisory Services Network LLC acquired a new position in Cadence Bank in the 3rd quarter valued at about $32,000. Community Bank N.A. purchased a new position in Cadence Bank in the 3rd quarter valued at about $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Cadence Bank in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Company Profile

(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.

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