19,719 Shares in Cadence Bank $CADE Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd acquired 19,719 shares of Cadence Bank, valued at approximately $599,000, during the first quarter.
• Cadence Bank reported a quarterly EPS of $0.73, surpassing analyst estimates, alongside a revenue of $476.32 million.
• The company has received several price target upgrades from analysts, with the consensus price target currently set at $40.40.

Bayforest Capital Ltd purchased a new position in Cadence Bank (NYSE:CADE - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 19,719 shares of the company's stock, valued at approximately $599,000.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Cadence Bank by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company's stock valued at $409,301,000 after buying an additional 980,369 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Cadence Bank by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,520,057 shares of the company's stock worth $167,589,000 after purchasing an additional 32,362 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Cadence Bank by 5.7% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,619,544 shares of the company's stock worth $109,889,000 after purchasing an additional 193,582 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Cadence Bank by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company's stock worth $85,953,000 after purchasing an additional 244,146 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Cadence Bank by 8.1% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,416,198 shares of the company's stock worth $73,356,000 after purchasing an additional 181,465 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Hovde Group increased their target price on Cadence Bank from $34.00 to $40.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. DA Davidson lifted their price objective on Cadence Bank from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Royal Bank Of Canada lifted their price objective on Cadence Bank from $34.00 to $37.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Stephens raised their price objective on Cadence Bank from $41.00 to $42.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Barclays restated an "overweight" rating and issued a $41.00 price objective (up previously from $38.00) on shares of Cadence Bank in a report on Tuesday, July 8th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.40.

Cadence Bank Stock Down 1.3%

NYSE CADE opened at $37.28 on Wednesday. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The business's fifty day simple moving average is $35.70 and its 200-day simple moving average is $32.11. The firm has a market cap of $6.79 billion, a PE ratio of 13.27 and a beta of 0.91.

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

Cadence Bank Dividend Announcement

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

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.

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