Cadence Bank (NYSE:CADE) finished Thursday with a subtraction of -$0.16 to close at $22.44, a downside of -0.69 percent. An average of 923,452 shares of common stock have been traded in the last five days. There was a fall of -$0.90 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 1,180,758 shares traded, while the 50-day average volume stands at 1,521,245.
CADE stock has decreased by -7.56% in the last month. The company shares reached their 1-month lowest point of $21.83 on 08/23/23. With the stock rallying to its 52-week high on 02/03/23, shares of the company touched a low of $16.95 and a high of $29.41 in 52 weeks. It has reached a new high 10 times so far this year and lost -8.98% or -$2.22 in price. In spite of this, the price is down -23.68% from the 52-week high.
Valuation Metrics
Cadence Bank (CADE) has a trailing price-to-earnings (P/E) ratio of 10.24. The stock’s beta is 1.05. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.09, the price-to-book (PB) ratio at 0.95, and the price-to-cash flow ratio at 5.18.
Financial Health
Further, the company has a long term debt to equity ratio of 0.10 and a total debt to equity ratio of 0.10 for the quarter ending June 29. Its gross profit as reported stood at $1.35 billion compared to revenue of $1.56 billion.
Earnings Surprise
For the three-month period that ended June 29, Cadence Bank had $143.66 million in total debt. The analyst consensus anticipated Cadence Bank’s latest quarter earnings to come in at $0.67 per share, but it turned out to be $0.64, a -4.50% surprise. At the end of the quarter ending June 29, Cadence Bank’s stock balance sheet showed total debt was $4.8 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cadence Bank (CADE) price momentum. RSI 9-day as of the close on 24 August was 31.44%, suggesting the stock is Neutral, with historical volatility in this time frame at 22.87%.
As of today, CADE’s price is $22.54 -3.86% or -$0.90 from its 5-day moving average. CADE is currently trading -9.41% lower than its 20-day SMA and +9.57% higher than its 100-day SMA. However, the stock’s current price level is +9.41% above the SMA50 and -18.22% below the SMA200.
The stochastic %K and %D were 17.02% and 12.63%, respectively, and the average true range (ATR) was 0.77. With the 14-day stochastic at 15.40% and the average true range at 0.77, the RSI (14) stands at 40.17%. The stock has reached -0.58 on the 9-day MACD Oscillator while the 14-day reading was at -1.40.
Analyst Ratings
UBS launched coverage on Cadence Bank (NYSE: CADE) in its analyst report released on March 15, 2023. The firm assigned the stock a Sell rating. The consensus rating for Cadence Bank (CADE) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell CADE, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.
What is CADE’s price target for the next 12 months?
Analysts predict a range of price targets between $21.00 and $29.00, with a median target of $26.00. Taking a look at these predictions, the average price target given by analysts for Cadence Bank (CADE) stock is $25.88.
