Two Sigma Investments LP Invests $1.11 Million in Cadence Bank (NYSE:CADE)

Two Sigma Investments LP bought a new stake in Cadence Bank (NYSE:CADE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,226 shares of the company's stock, valued at approximately $1,110,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Cadence Bank by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company's stock valued at $705,821,000 after purchasing an additional 191,717 shares during the period. Northern Trust Corp raised its stake in shares of Cadence Bank by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,684,312 shares of the company's stock worth $92,475,000 after buying an additional 350,660 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Cadence Bank by 21.2% in the 4th quarter. First Trust Advisors LP now owns 2,634,335 shares of the company's stock valued at $90,753,000 after buying an additional 460,486 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Cadence Bank by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock valued at $77,678,000 after buying an additional 12,309 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cadence Bank by 7.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company's stock valued at $76,986,000 after buying an additional 151,215 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CADE. DA Davidson reduced their target price on Cadence Bank from $42.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Piper Sandler cut their price target on shares of Cadence Bank from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Hovde Group raised their price objective on shares of Cadence Bank from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Royal Bank of Canada lowered their target price on shares of Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Stephens reaffirmed an "overweight" rating and issued a $40.00 target price on shares of Cadence Bank in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cadence Bank has a consensus rating of "Moderate Buy" and a consensus target price of $36.82.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $30.09 on Friday. The firm's 50-day moving average is $29.51 and its two-hundred day moving average is $32.67. The company has a market capitalization of $5.48 billion, a PE ratio of 10.86 and a beta of 0.84. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. The firm had revenue of $448.55 million during the quarter, compared to the consensus estimate of $451.61 million. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period in the previous year, the firm posted $0.62 EPS. On average, 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 Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.275 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.66%. Cadence Bank's dividend payout ratio is currently 38.60%.

Cadence Bank announced that its board has approved a share repurchase program on Friday, April 25th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

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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