Cadence Bank price target raised to $40 from $36 at DA Davidson

DA Davidson raised the firm’s price target on Cadence Bank (CADE) to $40 from $36 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s execution and outlook in a falling rate environment, given limited floating rate loans and upward pricing of variable and fixed rate loans, should support its net interest income growth and net interest margin expansion in 2025, the analyst tells investors in a research note.