Cadence Bank (NYSE:CADE) Hits New 1-Year High - Time to Buy?

Cadence Bank (NYSE:CADE - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $40.29 and last traded at $40.3470, with a volume of 380495 shares trading hands. The stock had previously closed at $39.84.

Wall Street Analysts Forecast Growth

• 3 high-yielding, small banks to buy on the dip

CADE has been the subject of a number of recent analyst reports. Barclays downgraded shares of Cadence Bank from an "overweight" rating to a "hold" rating in a report on Tuesday, October 28th. Morgan Stanley cut Cadence Bank from an "overweight" rating to a "sell" rating in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods lowered Cadence Bank from a "moderate buy" rating to a "hold" rating and upped their price target for the company from $41.00 to $49.00 in a research note on Monday, November 3rd. Stephens cut Cadence Bank from an "overweight" rating to an "equal weight" rating in a report on Tuesday, October 28th. Finally, Piper Sandler set a $40.00 price objective on shares of Cadence Bank and gave the company a "neutral" rating in a report on Monday, October 27th. Two investment 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 company has an average rating of "Hold" and a consensus price target of $42.33.

View Our Latest Stock Report on CADE

Cadence Bank Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 14.66 and a beta of 0.95. The stock has a 50 day moving average price of $37.90 and a two-hundred day moving average price of $35.42.

Cadence Bank (NYSE:CADE - Get Free Report) last released its earnings results on Monday, October 20th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. The company had revenue of $517.24 million during the quarter, compared to the consensus estimate of $523.60 million. Cadence Bank had a return on equity of 10.08% and a net margin of 18.15%.During the same period in the previous year, the company posted $0.73 EPS. As a group, analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $0.275 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a yield of 2.7%. Cadence Bank's dividend payout ratio (DPR) is 39.86%.

Institutional Trading of Cadence Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC increased its position in shares of Cadence Bank by 25.5% in the first quarter. Voya Investment Management LLC now owns 205,461 shares of the company's stock valued at $6,238,000 after buying an additional 41,764 shares in the last quarter. Strs Ohio acquired a new stake in shares of Cadence Bank in the first quarter valued at approximately $580,000. Nordea Investment Management AB increased its stake in shares of Cadence Bank by 1.6% during the 2nd quarter. Nordea Investment Management AB now owns 101,585 shares of the company's stock worth $3,266,000 after purchasing an additional 1,560 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Cadence Bank by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,814,141 shares of the company's stock valued at $58,016,000 after buying an additional 17,367 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Cadence Bank by 12.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,976 shares of the company's stock valued at $735,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

About Cadence Bank

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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