152,525 Shares in Cadence Bank $CADE Acquired by FCG Investment Co

Key Points

• FCG Investment Co has acquired 152,525 shares of Cadence Bank, valued at around $4.88 million, making it the company's 10th largest holding.
• Cadence Bank's quarterly earnings exceeded expectations, reporting a $0.73 EPS compared to the consensus estimate of $0.69, with total revenue of $476.32 million.
• The company announced a quarterly dividend of $0.275, marking a 3.0% dividend yield, with a payout ratio of 39.15%.

FCG Investment Co acquired a new position in Cadence Bank (NYSE:CADE - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 152,525 shares of the company's stock, valued at approximately $4,878,000. Cadence Bank makes up approximately 2.5% of FCG Investment Co's holdings, making the stock its 10th biggest holding. FCG Investment Co owned about 0.08% of Cadence Bank at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Cadence Bank in the 1st quarter worth approximately $40,000. Abound Wealth Management lifted its position in Cadence Bank by 223.3% in the first quarter. Abound Wealth Management now owns 1,665 shares of the company's stock worth $51,000 after purchasing an additional 1,150 shares during the period. UMB Bank n.a. lifted its position in Cadence Bank by 169.6% in the first quarter. UMB Bank n.a. now owns 1,774 shares of the company's stock worth $54,000 after purchasing an additional 1,116 shares during the period. State of Wyoming lifted its position in Cadence Bank by 172.4% in the fourth quarter. State of Wyoming now owns 2,359 shares of the company's stock worth $81,000 after purchasing an additional 1,493 shares during the period. Finally, GAMMA Investing LLC lifted its position in Cadence Bank by 55.3% in the first quarter. GAMMA Investing LLC now owns 2,892 shares of the company's stock worth $88,000 after purchasing an additional 1,030 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CADE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $40.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Barclays restated an "overweight" rating and issued a $41.00 target price (up from $38.00) on shares of Cadence Bank in a research report on Tuesday, July 8th. Stephens upped their target price on Cadence Bank from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Royal Bank Of Canada upped their target price on Cadence Bank from $34.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, DA Davidson upped their target price on Cadence Bank from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.40.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $37.12 on Friday. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The stock has a fifty day moving average of $36.31 and a 200-day moving average of $32.57. The company has a market capitalization of $6.76 billion, a PE ratio of 13.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.The company had revenue of $476.32 million during the quarter, compared to the consensus estimate of $467.60 million. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, equities analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. Cadence Bank's dividend payout ratio (DPR) is 39.15%.

About Cadence Bank

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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