Mutual Advisors LLC acquired a new position in Cadence Bank (NYSE:CADE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,155 shares of the company's stock, valued at approximately $1,668,000.
A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in Cadence Bank by 7.8% in the first quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company's stock worth $409,301,000 after purchasing an additional 980,369 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Cadence Bank by 0.6% in the first 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 in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Cadence Bank by 5.7% in the first 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 in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Cadence Bank by 19.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company's stock worth $92,640,000 after purchasing an additional 480,622 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Cadence Bank by 9.4% in the first 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 in the last quarter. 84.61% of the stock is currently owned by institutional investors.
Cadence Bank Stock Down 8.2%
NYSE CADE opened at $35.81 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day simple moving average of $37.23 and a 200 day simple moving average of $33.38. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.23. The stock has a market cap of $6.53 billion, a PE ratio of 12.74 and a beta of 0.88.
Cadence Bank (NYSE:CADE - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. Cadence Bank had a net margin of 18.79% and a return on equity of 9.84%. The business had revenue of $476.32 million during the quarter, compared to analysts' expectations of $467.60 million. During the same quarter last year, the company earned $0.73 earnings per share. On average, research analysts forecast that Cadence Bank will post 2.94 EPS for the current year.
Cadence Bank Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. Cadence Bank's dividend payout ratio is 39.15%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Cadence Bank from $37.00 to $43.00 and gave the company a "sector perform" rating in a report on Friday, October 10th. Barclays upped their price target on shares of Cadence Bank from $43.00 to $46.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Cadence Bank from $38.00 to $47.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Hovde Group upped their price target on shares of Cadence Bank from $34.00 to $40.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Finally, Zacks Research cut shares of Cadence Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.00.
View Our Latest Stock Analysis on CADE
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.
See Also
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