Cadence Bank $CADE Position Cut by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP has reduced its stake in Cadence Bank by 60.8%, now owning 6,930 shares, valued at approximately $210,000.
• Cadence Bank reported a quarterly EPS of $0.73, exceeding the expected $0.69, and had a revenue of $476.32 million for the quarter.
• The company announced a quarterly dividend of $0.275 per share, representing an annualized dividend of $1.10 and a yield of 3.0%.

Advantage Alpha Capital Partners LP decreased its stake in Cadence Bank (NYSE:CADE - Free Report) by 60.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,930 shares of the company's stock after selling 10,759 shares during the period. Advantage Alpha Capital Partners LP's holdings in Cadence Bank were worth $210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of 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 buying an additional 980,369 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 32,362 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 193,582 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Cadence Bank by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,684,312 shares of the company's stock worth $92,475,000 after acquiring an additional 350,660 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Cadence Bank by 8.1% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,416,198 shares of the company's stock worth $73,356,000 after acquiring an additional 181,465 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on CADE shares. Stephens boosted their price target on Cadence Bank from $41.00 to $42.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Barclays reiterated an "overweight" rating and issued a $41.00 price target (up previously from $38.00) on shares of Cadence Bank in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price target on Cadence Bank from $40.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Piper Sandler boosted their price target on Cadence Bank from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Royal Bank Of Canada upped their price objective on Cadence Bank from $34.00 to $37.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.40.

Cadence Bank Stock Performance

Shares of Cadence Bank stock traded down $0.06 on Thursday, reaching $37.60. 392,035 shares of the company were exchanged, compared to its average volume of 1,455,147. 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 company's 50-day moving average is $34.61 and its two-hundred day moving average is $31.93. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 13.39 and a beta of 0.89. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.20.

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

Cadence Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Cadence Bank's dividend payout ratio is 39.15%.

Cadence Bank 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.