Cadence Bancorporation (NYSE: CADE) Given the consensus recommendation of “Buy” by brokerage firms
Shares of Cadence Bancorporation (NYSE: CADE) have received a consensus recommendation to “Buy” by the ten analysts who cover the stock, reports Marketbeat. Four investment analysts rated the stock with a hold recommendation, four gave the company a buy recommendation and one gave the company a strong buy recommendation. The 1-year average target price among brokerage firms that hedged the security in the past year is $ 30.25.
Several research firms have recently published reports on CADE. Piper Sandler downgraded Cadence Bancorporation shares from a “neutral” to an “overweight” rating and raised the target share price from $ 34.00 to $ 40.00 in a research note on Thursday November 4. Janney Montgomery Scott upgraded Cadence Bancorporation shares from a “neutral” to a “buy” rating and set a price target of $ 35 for the company in a research report released on Thursday, December 9. Truist began covering the shares of Cadence Bancorporation in a research report on Monday, November 1. They set a “buy” rating and a price target of $ 35 for the company. Finally, Zacks Investment Research upgraded Cadence Bancorporation shares from a “hold” rating to a “buy” rating and set a price target of $ 33.00 for the company in a research report released on Wednesday, December 29. .
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. American Century Companies Inc. increased its stake in Cadence Bancorporation by 104.4% during the second quarter. American Century Companies Inc. now owns 160,707 shares of the company valued at $ 3,356,000 after purchasing an additional 82,081 shares during the last quarter. Credit Suisse AG increased its stake in Cadence Bancorporation by 58.4% in the second quarter. Credit Suisse AG now owns 260,057 shares of the company valued at $ 5,414,000 after purchasing an additional 95,925 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Cadence Bancorporation shares in the second quarter valued at $ 42,000. Squarepoint Ops LLC acquired a new position in Cadence Bancorporation shares in the 2nd quarter valued at $ 597,000. Finally, Clearbridge Investments LLC increased its stake in Cadence Bancorporation by 296.9% in the 2nd quarter. Clearbridge Investments LLC now owns 794,522 shares of the company valued at $ 16,590,000 after purchasing an additional 594,342 shares in the last quarter. 91.97% of the shares are currently held by institutional investors.
NYSE: CADE opened at $ 31.31 on Wednesday. Cadence Bancorporation has a one-year minimum of $ 27.25 and a one-year maximum of $ 32.12. The company has a debt to equity ratio of 0.11, a quick ratio of 0.63, and a current ratio of 0.64. The company has a market cap of $ 3.40 billion, a price-to-earnings ratio of 11.34 and a beta of 1.12. The company’s fifty-day moving average is $ 29.78 and its two-hundred-day moving average is $ 23.99.
Cadence Bancorporation (NYSE: CADE) last released its results on Sunday, October 24. The company reported earnings per share (EPS) of $ 0.67 for the quarter, beating the consensus estimate of $ 0.50 by $ 0.17. Cadence Bancorporation had a net margin of 26.11% and a return on equity of 11.45%. The company posted revenue of $ 182.48 million for the quarter, compared to analysts’ estimates of $ 180.26 million. During the same period of the previous year, the company posted EPS of $ 0.40. The company’s revenue for the quarter was down 2.5% year-on-year. As a group, equity research analysts expect Cadence Bancorporation to post earnings per share of 2.48 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Wednesday, December 15 received a dividend of $ 0.20 per share. The ex-dividend date was Tuesday, December 14. This represents a dividend of $ 0.80 on an annualized basis and a return of 2.56%. This is a positive change from Cadence Bancorporation’s previous quarterly dividend of $ 0.16. Cadence Bancorporation’s payout ratio is 28.99%.
Cadence Bancorporation Company Profile
Cadence Bank provides banking and financial solutions to consumers, businesses and corporations. Its services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and commercial banking, cash management, loans, asset loans, commercial real estate, equipment financing, related banking services, SBA loans, foreign exchange, wealth management, investment and trust services, financial planning, pension management and personal insurance and commercial.
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