Cooper Financial Group Invests $2.64 Million in Cadence Bank $CADE

Key Points

• Cooper Financial Group has invested approximately $2.64 million to acquire 82,552 shares in Cadence Bank, marking a significant addition to its holdings.
• Cadence Bank is set to pay a quarterly dividend of $0.275 on October 1st, reflecting an annualized dividend yield of 2.9%.
• Analysts have varied price targets for Cadence Bank, with the average target set at $40.90 and several firms rating the stock as a "Moderate Buy."

Cooper Financial Group purchased a new position in Cadence Bank (NYSE:CADE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 82,552 shares of the company's stock, valued at approximately $2,640,000.

Several other institutional investors and hedge funds also recently modified their holdings of CADE. Sheets Smith Wealth Management grew its holdings in Cadence Bank by 2.6% during the second quarter. Sheets Smith Wealth Management now owns 18,040 shares of the company's stock worth $577,000 after acquiring an additional 464 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cadence Bank by 0.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,634 shares of the company's stock valued at $1,568,000 after purchasing an additional 480 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in Cadence Bank by 8.6% during the first quarter. Johnson Investment Counsel Inc. now owns 7,317 shares of the company's stock valued at $222,000 after purchasing an additional 578 shares during the last quarter. Xponance Inc. lifted its stake in Cadence Bank by 2.3% during the first quarter. Xponance Inc. now owns 26,415 shares of the company's stock valued at $802,000 after purchasing an additional 587 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Cadence Bank by 1.4% during the first quarter. State of Michigan Retirement System now owns 43,910 shares of the company's stock valued at $1,333,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Down 0.7%

CADE opened at $37.56 on Wednesday. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20. The business has a 50-day moving average of $36.46 and a 200-day moving average of $32.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $6.84 billion, a PE ratio of 13.37 and a beta of 0.91.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.73 earnings per share 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 business had revenue of $476.32 million for the quarter, compared to the consensus estimate of $467.60 million. During the same period last year, the business earned $0.73 EPS. Equities research analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on CADE shares. Royal Bank Of Canada increased their target price on shares of Cadence Bank from $34.00 to $37.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Morgan Stanley increased their price target on Cadence Bank from $38.00 to $47.00 and gave the company an "overweight" rating in a research report on Monday. Hovde Group increased their price target 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. Wall Street Zen lowered Cadence Bank from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods increased their price target on Cadence Bank from $40.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.90.

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.

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