Cadence BanCorp (CADE) PT Lowered to $38 at KBW, but 'Revenue Growth Story Still Intact'

Keefe, Bruyette & Woods analyst Catherine Mealor lowered the price target on Cadence BanCorp (NYSE: CADE) to $38.00 (from $42.00) while maintaining an Outperform rating.

The analyst commented: "Revising NIM, but Revenue Growth Story Still Intact; Solid PPNR beat and guidance was maintained as CADE still sees growth runway in this environment, and a flatter NIM outlook is being offset with a bigger balance sheet. We'd be buyers of CADE on the relative YTD weakness (-19% vs. KRX -12.5%) as we like the organic growth profile and believe the revenue growth outlook and operating leverage story will stand out among peers this year. Plus, there's attractive optionality with capital deployment (M&A/buybacks). With shares inexpensive now, back to 9x '26E and 1.25x TBV, we remain OP."

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