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Cadence Bank
CADE Details
Cadence Bank (NYSE: CADE) is a significant regional banking franchise with assets of USD 48 billion and over 400 branch locations in the South, Midwest, and Texas. The company and its insurance agency subsidiary provide commercial banking, leasing, mortgage origination and servicing, insurance, brokerage, and trust services to corporate customers, local governments, individuals, and other financial institutions through an extensive network of branches and offices.
Latest News:
Q3FY21 Results:
Key Risks:
Valuation Methodology: Price/Book Value Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's FY22E trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
CADE Daily Technical Chart (Source: REFINITIV)
Stock Recommendation:
CADE's share price has surged 30.59% in the past six months and is currently trading at a higher band of the 52-week range of USD 24.87 to USD 35.59. The stock is currently trading above its 50 and 200 DMA levels, and its RSI Index is at 59.09. We have valued the stock using the Price/Book Value-based relative valuation methodology and arrived at a target price of USD 30.82.
Considering the surge in the stock price, a decline in fundamentals, current valuation, and technical indicators, we believe the decent business fundamentals are adequately reflected at current trading levels. Hence, we recommend a "Sell" rating on the stock at the current price of USD 32.87, up 0.98%, as of January 20, 2022, at 11:02 AM ET.
*All forecasted figures and Industry Information have been taken from REFINITIV.
*The reference data in this report has been partly sourced from REFINITIV.