Universal Beteiligungs und Servicegesellschaft mbH Acquires New Position in Cadence Bank (NYSE:CADE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a stake of 9,072 shares in Cadence Bank, valued at approximately $275,000, signaling increased interest from institutional investors.
• A number of high-profile institutional investors have significantly increased their holdings in Cadence Bank, with Millennium Management LLC raising its holdings by 846.1% during the fourth quarter.
• Analysts have raised their price targets on Cadence Bank, with a consensus target price of $40.40 and ratings ranging from "sell" to "overweight," indicating varying levels of confidence among analysts.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Cadence Bank (NYSE:CADE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 9,072 shares of the company's stock, valued at approximately $275,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ignite Planners LLC lifted its holdings in Cadence Bank by 11.5% during the 1st quarter. Ignite Planners LLC now owns 11,268 shares of the company's stock worth $335,000 after buying an additional 1,166 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Cadence Bank by 46.0% in the first quarter. Allianz Asset Management GmbH now owns 10,026 shares of the company's stock valued at $304,000 after purchasing an additional 3,160 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Cadence Bank by 4.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 167,627 shares of the company's stock worth $5,089,000 after purchasing an additional 7,829 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Cadence Bank by 2.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,370,231 shares of the company's stock worth $41,600,000 after buying an additional 28,363 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Cadence Bank by 107.2% in the 1st quarter. Victory Capital Management Inc. now owns 104,514 shares of the company's stock valued at $3,173,000 after buying an additional 54,061 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CADE shares. Hovde Group lifted their price target on shares of Cadence Bank from $34.00 to $40.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. Barclays reiterated 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. Wall Street Zen lowered shares of Cadence Bank from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Stephens lifted their price objective on shares of Cadence Bank from $41.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, DA Davidson lifted their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $40.40.

Cadence Bank Price Performance

CADE stock traded down $0.39 during trading on Wednesday, reaching $34.48. 1,558,040 shares of the company were exchanged, compared to its average volume of 1,461,838. The company has a market cap of $6.28 billion, a P/E ratio of 12.27 and a beta of 0.89. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.20. The stock's 50 day moving average price is $32.95 and its 200 day moving average price is $31.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business posted $0.73 earnings per share. As a group, analysts predict that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.10 annualized dividend and a yield of 3.2%. Cadence Bank's payout ratio is presently 39.15%.

Cadence Bank declared that its board has initiated a share buyback plan on Friday, April 25th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.