Paragon Capital Management Ltd Acquires New Holdings in Cadence Bank $CADE

Key Points

• Paragon Capital Management Ltd has acquired a new position in Cadence Bank, purchasing 6,840 shares valued at approximately $219,000 in the second quarter.
• Cadence Bank recently announced a quarterly dividend of $0.275 per share, with an annualized yield of 2.9%.
• Analyst ratings for Cadence Bank show a mix, with seven analysts rating it as a Buy and others suggesting a more cautious approach, resulting in an average target price of $40.40.

Paragon Capital Management Ltd acquired a new position in shares of Cadence Bank (NYSE:CADE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,840 shares of the company's stock, valued at approximately $219,000.

Other large investors have also recently bought and sold shares of the company. FCG Investment Co bought a new position in shares of Cadence Bank in the 2nd quarter valued at about $4,878,000. Sheets Smith Wealth Management lifted its position 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 last quarter. Balefire LLC bought a new stake in Cadence Bank in the 2nd quarter valued at $2,967,000. Davis Investment Partners LLC bought a new stake in shares of Cadence Bank in the second quarter valued at about $221,000. Finally, Voya Investment Management LLC raised its position in shares of Cadence Bank by 25.5% in the first quarter. Voya Investment Management LLC now owns 205,461 shares of the company's stock valued at $6,238,000 after buying an additional 41,764 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Stock Performance

Shares of Cadence Bank stock opened at $37.56 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The company has a market cap of $6.84 billion, a PE ratio of 13.36 and a beta of 0.91. The business has a 50 day moving average price of $36.36 and a 200-day moving average price of $32.62. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last announced 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. Cadence Bank had a net margin of 18.79% and a return on equity of 9.84%. The company had revenue of $476.32 million during the quarter, compared to the consensus estimate of $467.60 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. Equities analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

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

Wall Street Analysts Forecast Growth

CADE has been the subject of several recent analyst reports. DA Davidson upped their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Barclays reissued an "overweight" rating and set a $41.00 price target (up from $38.00) on shares of Cadence Bank in a research note on Tuesday, July 8th. Piper Sandler increased their price objective on Cadence Bank from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Zacks Research downgraded shares of Cadence Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Wall Street Zen lowered Cadence Bank from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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