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

Cadence Bank (NYSE:CADE)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $44.26 and last traded at $44.0350, with a volume of 29109 shares. The stock had previously closed at $44.19.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CADE shares. Royal Bank Of Canada raised Cadence Bank from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods downgraded Cadence Bank from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from $41.00 to $49.00 in a research report on Monday, November 3rd. Finally, Zacks Research downgraded shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.33.

Cadence Bank Price Performance

The firm’s fifty day moving average price is $39.37 and its two-hundred day moving average price is $36.76. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 15.96 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, October 20th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The company had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. Cadence Bank had a return on equity of 9.97% and a net margin of 18.15%.During the same period in the prior year, the firm earned $0.73 earnings per share. On average, equities research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The business 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 $0.275 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.10 annualized dividend and a dividend yield of 2.5%. Cadence Bank’s dividend payout ratio is 39.86%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CADE. FNY Investment Advisers LLC bought a new stake in Cadence Bank in the 2nd quarter worth about $25,000. Mather Group LLC. bought a new position in shares of Cadence Bank in the third quarter valued at approximately $26,000. Advisory Services Network LLC bought a new position in shares of Cadence Bank in the third quarter valued at approximately $32,000. Community Bank N.A. purchased a new stake in shares of Cadence Bank during the third quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Cadence Bank during the 3rd quarter worth $38,000. 84.61% of the stock is owned by institutional investors.

Cadence Bank Company Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.