Stephens analyst Matt Olney raised the firm’s price target on Cadence Bank to $27 from $25 and keeps an Overweight rating on the shares. The company’s Q3 results included mixed credit trends, softer fees, and in-line NII/NIM, but most importantly updated on the sale of its insurance broker, which should improve the company’s capital and liquidity profile while also being accretive to EPS, the analyst tells investors. Stephens is encouraged to see capital sheet flexibility, which should unlock earnings power and benefit the company’s profitability.
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