Captrust Financial Advisors increased its position in shares of Cadence Bank (NYSE:CADE – Free Report) by 55.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,606 shares of the company’s stock after acquiring an additional 8,431 shares during the period. Captrust Financial Advisors’ holdings in Cadence Bank were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in shares of Cadence Bank by 31.2% in the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after purchasing an additional 15,312 shares in the last quarter. Blue Trust Inc. boosted its stake in Cadence Bank by 456.6% in the second quarter. Blue Trust Inc. now owns 21,667 shares of the company’s stock valued at $628,000 after buying an additional 17,774 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Cadence Bank by 16.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after acquiring an additional 291,885 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Cadence Bank by 8.0% in the second quarter. Natixis Advisors LLC now owns 419,375 shares of the company’s stock worth $11,860,000 after acquiring an additional 30,945 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Cadence Bank by 21.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after purchasing an additional 237,748 shares in the last quarter. 84.61% of the stock is owned by institutional investors.
Cadence Bank Trading Down 0.6 %
NYSE:CADE opened at $36.88 on Wednesday. Cadence Bank has a 52 week low of $24.99 and a 52 week high of $40.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s fifty day moving average is $35.33 and its 200-day moving average is $31.95. The firm has a market cap of $6.72 billion, a P/E ratio of 10.60 and a beta of 0.98.
Cadence Bank (NYSE:CADE – Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business had revenue of $447.36 million for the quarter, compared to analysts’ expectations of $450.97 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Cadence Bank will post 2.71 earnings per share for the current year.
Cadence Bank Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued 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 2.71%. Cadence Bank’s payout ratio is currently 28.74%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Barclays increased their price target on Cadence Bank from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. DA Davidson boosted their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial increased their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.63.
View Our Latest Stock Report on CADE
Cadence Bank Profile
(Free Report)
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.
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