Dynamic Technology Lab Private Ltd Sells 21,724 Shares of Cadence Bank $CADE

Key Points

• Dynamic Technology Lab Private Ltd has significantly reduced its stake in Cadence Bank by 59.3%, owning now 14,940 shares valued at approximately $454,000 as per their latest 13F filing.
• Several hedge funds have recently adjusted their positions in Cadence Bank, with notable increases including Abound Wealth Management growing its stake by 223.3% to reach $51,000.
• Cadence Bank announced a quarterly dividend of $0.275 per share, representing a 2.9% yield, with an ex-dividend date set for September 15th.

Dynamic Technology Lab Private Ltd lessened its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 59.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 14,940 shares of the company's stock after selling 21,724 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Cadence Bank were worth $454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cadence Bank during the 1st quarter valued at approximately $40,000. Abound Wealth Management grew its position in shares of Cadence Bank by 223.3% during the 1st quarter. Abound Wealth Management now owns 1,665 shares of the company's stock worth $51,000 after buying an additional 1,150 shares during the period. UMB Bank n.a. grew its position in shares of Cadence Bank by 169.6% during the 1st quarter. UMB Bank n.a. now owns 1,774 shares of the company's stock worth $54,000 after buying an additional 1,116 shares during the period. State of Wyoming grew its position in shares of Cadence Bank by 172.4% during the 4th quarter. State of Wyoming now owns 2,359 shares of the company's stock worth $81,000 after buying an additional 1,493 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Cadence Bank by 55.3% during the 1st quarter. GAMMA Investing LLC now owns 2,892 shares of the company's stock worth $88,000 after buying an additional 1,030 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Stock Up 1.3%

NYSE CADE traded up $0.48 during mid-day trading on Wednesday, hitting $36.96. The company's stock had a trading volume of 115,301 shares, compared to its average volume of 1,494,122. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The company's 50 day simple moving average is $35.97 and its 200 day simple moving average is $32.26. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 13.16 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 the consensus estimate 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 analysts' expectations of $467.60 million. During the same period last year, the business earned $0.73 EPS. Analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on CADE shares. Zacks Research downgraded shares of Cadence Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Piper Sandler raised their price objective on shares of Cadence Bank from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods raised their price objective on shares of Cadence Bank from $40.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Hovde Group raised their price objective on shares of Cadence Bank from $34.00 to $40.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Finally, Stephens lifted their price target on shares of Cadence Bank from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Seven investment 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.40.

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.