Cadence Bank (NYSE:CADE) Shares Sold by Cadence Bank

Cadence Bank trimmed its position in shares of Cadence Bank (NYSE:CADE) by 11.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 754,913 shares of the company’s stock after selling 101,731 shares during the quarter. Cadence Bank makes up about 1.7% of Cadence Bank’s investment portfolio, making the stock its 10th biggest position. Cadence Bank owned 0.41% of Cadence Bank worth $24,044,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Cadence Bank during the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted its position in Cadence Bank by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after buying an additional 436 shares during the last quarter. Innealta Capital LLC bought a new position in Cadence Bank in the second quarter valued at about $138,000. KBC Group NV boosted its stake in shares of Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares during the last quarter. Finally, Americana Partners LLC bought a new stake in shares of Cadence Bank during the third quarter worth approximately $201,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of Cadence Bank stock traded down $0.30 on Tuesday, reaching $38.99. 80,540 shares of the stock were exchanged, compared to its average volume of 1,322,353. The firm’s 50 day moving average is $33.99 and its 200-day moving average is $31.26. The firm has a market cap of $7.10 billion, a PE ratio of 11.29 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. Cadence Bank has a one year low of $24.15 and a one year high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. The business had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. Cadence Bank’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. As a group, analysts anticipate that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. Cadence Bank’s dividend payout ratio is currently 28.74%.

Analysts Set New Price Targets

CADE has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Barclays increased their target price on Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Truist Financial upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.29.

Cadence Bank Company Profile

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.