1 week Ago By ABMN Staff
Great Lakes Advisors LLC lowered its stake in Cadence Bank ( NYSE:CADE – Free Report ) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,842 shares of the company’s stock after selling 11,620 shares during the quarter.
Great Lakes Advisors LLC owned about 0.13% of Cadence Bank worth $6,811,000 as of its most recent filing with the Securities & Exchange Commission. A number of other large investors have also recently made changes to their positions in the stock.
GAMMA Investing LLC boosted its holdings in Cadence Bank by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after buying an additional 436 shares during the period.
Rise Advisors LLC purchased a new stake in shares of Cadence Bank during the first quarter worth about $34,000. Innealta Capital LLC bought a new stake in Cadence Bank during the 2nd quarter valued at approximately $138,000. Argent Advisors Inc.
purchased a new position in Cadence Bank in the 1st quarter worth approximately $204,000. Finally, Lavaca Capital LLC bought a new position in Cadence Bank in the 1st quarter worth approximately $207,000. 84.
61% of the stock is owned by hedge funds and other institutional investors. Wall Street Analyst Weigh In CADE has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Cadence Bank from $30.
00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Royal Bank of Canada increased their price objective on shares of Cadence Bank from $31.
00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Jefferies Financial Group reduced their target price on Cadence Bank from $31.
00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Barclays increased their price target on Cadence Bank from $30.
00 to $33.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler downgraded Cadence Bank from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $33.
00 to $34.00 in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock.
According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.
Cadence Bank Trading Down 2.8 % Shares of CADE opened at $30.64 on Monday.
The company’s fifty day simple moving average is $30.79 and its 200-day simple moving average is $29.00.
The company has a market cap of $5.58 billion, a P/E ratio of 9.79 and a beta of 0.
97. The company has a current ratio of 0.86, a quick ratio of 0.
86 and a debt-to-equity ratio of 0.05. Cadence Bank has a twelve month low of $19.
67 and a twelve month high of $34.13. Cadence Bank ( NYSE:CADE – Get Free Report ) last announced its quarterly earnings data on Monday, July 22nd.
The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.
08. Cadence Bank had a net margin of 24.42% and a return on equity of 8.
82%. The business had revenue of $742.87 million during the quarter, compared to the consensus estimate of $439.
63 million. During the same quarter last year, the firm earned $0.64 earnings per share.
As a group, analysts expect that Cadence Bank will post 2.56 EPS for the current year. Cadence Bank Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st.
Shareholders of record on Friday, September 13th will be given a $0.25 dividend. This represents a $1.
00 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, September 13th.
Cadence Bank’s dividend payout ratio (DPR) is presently 31.95%. About Cadence Bank ( 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. Read More Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Bank ( NYSE:CADE – Free Report ).
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