Interval Partners LP Makes New $4.94 Million Investment in Cadence Bank $CADE

Key Points

• Interval Partners LP has acquired a new position in Cadence Bank, purchasing 162,780 shares valued at approximately $4.94 million, representing 0.09% ownership as per its recent SEC filing.
• Analysts have recently upgraded Cadence Bank's stock ratings and price targets, with several firms raising their targets, indicating a positive outlook for the bank and an overall average rating of "Moderate Buy."
• Cadence Bank announced a quarterly dividend of $0.275 per share, representing a 2.9% yield, with shareholders on record set to receive it on October 1st.

Interval Partners LP purchased a new position in shares of Cadence Bank (NYSE:CADE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 162,780 shares of the company's stock, valued at approximately $4,942,000. Interval Partners LP owned about 0.09% of Cadence Bank at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cadence Bank during the 1st quarter worth approximately $40,000. Abound Wealth Management grew its position in 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 acquiring an additional 1,150 shares during the last quarter. UMB Bank n.a. grew its position in 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 acquiring an additional 1,116 shares during the last quarter. State of Wyoming lifted its holdings in 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 in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in 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 in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Trading Down 0.5%

Shares of Cadence Bank stock traded down $0.19 on Friday, hitting $37.76. 2,484,768 shares of the company's stock traded hands, compared to its average volume of 1,622,046. The firm's 50-day moving average price is $35.51 and its two-hundred day moving average price is $32.04. The stock has a market capitalization of $6.88 billion, a PE ratio of 13.44 and a beta of 0.91. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. The company had revenue of $476.32 million during the quarter, compared to analysts' expectations of $467.60 million. Cadence Bank had a net margin of 18.79% and a return on equity of 9.84%. During the same quarter in the previous year, the company posted $0.73 EPS. On average, research analysts expect that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CADE. Hovde Group upped their price objective on Cadence Bank from $34.00 to $40.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $40.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Barclays reaffirmed an "overweight" rating and set a $41.00 price objective (up previously from $38.00) on shares of Cadence Bank in a report on Tuesday, July 8th. Wall Street Zen downgraded Cadence Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, DA Davidson upped 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. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cadence Bank presently has an average rating of "Moderate Buy" and a consensus target price of $40.40.

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.