The stock of Cadence Bank (NYSE:CADE) last traded at $20.92, up 3.98% from the previous session.
Data from the available sources indicates that Cadence Bank (NYSE:CADE) is covered by 13 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $27.50 and a low of $19.00, we find $24.25. Given the previous closing price of $20.12, this indicates a potential upside of 20.53 percent. CADE stock price is now 7.69% away from the 50-day moving average and -12.01% away from the 200-day moving average. The market capitalization of the company currently stands at $3.73B.
In total, 5 analysts have assigned it a hold rating, and 7 have given it a buy rating. Brokers who have rated the stock have averaged $23.96 as their price target over the next twelve months.
With the price target of $21, UBS recently initiated with Sell rating for Cadence Bank (NYSE: CADE).
Insiders disposed of 147,872 shares of company stock worth roughly $3.09 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CADE stock. A new stake in Cadence Bank shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $22,303,000. BALYASNY ASSET MANAGEMENT L.P. invested $20,857,000 in shares of CADE during the first quarter. In the first quarter, SEGALL BRYANT & HAMILL, LLC acquired a new stake in Cadence Bank valued at approximately $19,144,000. BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC acquired a new stake in CADE for approximately $18,942,000. GREAT LAKES ADVISORS, LLC purchased a new stake in CADE valued at around $10,301,000 in the second quarter. In total, there are 409 active investors with 76.30% ownership of the company’s stock.
With an opening price of $20.70 on Wednesday morning, Cadence Bank (NYSE: CADE) set off the trading day. During the past 12 months, Cadence Bank has had a low of $16.95 and a high of $29.41. The fifty day moving average price for CADE is $19.44 and a two-hundred day moving average price translates $23.75 for the stock.
The latest earnings results from Cadence Bank (NYSE: CADE) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.4, missing analysts’ expectations of $0.66 by -0.26. This compares to $0.60 EPS in the same period last year. The net profit margin was 23.70% and return on equity was 9.90% for CADE. The company reported revenue of $526.13 million for the quarter, compared to $331.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 58.51 percent. For the current quarter, analysts expect CADE to generate $476.42M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/03/2023. Investors who held shares on 06/15/2023 were paid a $0.235 dividend. On an annualized basis, this represents a $0.94 dividend and a 4.49% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, CADE is presently at 38.70%.
Cadence Bank(CADE) Company Profile
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. The company’s products and services also comprise small business administration lending, foreign exchange, wealth management, investment and trust, financial planning, retirement plan management, and personal and business insurance services. It operates in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee, Texas, Illinois, and Oklahoma, the United States. Cadence Bank was incorporated in 1876 and is headquartered in Tupelo, Mississippi.
