Cadence Bank rises after Piper Sandler upgrades to 'overweight'

Cadence Bank

08/07/2025 18:59

** Regional lender Cadence Bank's CADE.N shares rise 3.2% to $35.30

** Piper Sandler upgrades CADE to "overweight" from "neutral" after closing of Industry Bancshares deal; says benefits from additional scale and cost saves should drive upside in shares

** Brokerage sees 25%-plus in total return potential over the next 12 months

** Says earnings boost from Industry deal has extremely low execution risk as most of it is to come from the restructuring of the bank's large and underwater securities book

** CADE completed the acquisition of Industry Bancshares earlier this month

** Piper Sandler raises CADE PT to $42 from $36, a 22.8% upside to stock's last close

** 7 of 11 brokerages rate the stock "buy" or higher and 4 "hold"; median PT $37 - data compiled by LSEG

** As of last close, CADE stock down 0.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))