9,072 Shares in Cadence Bank (NYSE:CADE) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

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 purchased a new stake in shares of Cadence Bank (NYSE:CADE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 9,072 shares of the company's stock, valued at approximately $275,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in shares of Cadence Bank by 39.2% in the 4th quarter. LPL Financial LLC now owns 149,475 shares of the company's stock valued at $5,149,000 after purchasing an additional 42,097 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cadence Bank by 46.2% in the fourth quarter. JPMorgan Chase & Co. now owns 604,097 shares of the company's stock worth $20,811,000 after buying an additional 190,981 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Cadence Bank by 7.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 28,439 shares of the company's stock valued at $980,000 after acquiring an additional 2,073 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Cadence Bank in the fourth quarter valued at $249,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in Cadence Bank by 23.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,809 shares of the company's stock valued at $303,000 after acquiring an additional 1,665 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Performance

CADE stock traded up $0.42 during mid-day trading on Friday, reaching $34.37. The company had a trading volume of 297,916 shares, compared to its average volume of 1,453,890. The stock has a market capitalization of $6.26 billion, a P/E ratio of 12.24 and a beta of 0.89. The stock's 50-day simple moving average is $33.10 and its two-hundred day simple moving average is $31.86. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly 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 analyst estimates of $467.60 million. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%. During the same quarter in the previous year, the firm posted $0.73 EPS. Research analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 3.2%. The ex-dividend date is Monday, September 15th. Cadence Bank's dividend payout ratio (DPR) is currently 39.15%.

Cadence Bank announced that its board has authorized a share repurchase program on Friday, April 25th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on CADE. Barclays reissued an "overweight" rating and issued a $41.00 target price (up previously from $38.00) on shares of Cadence Bank in a research report on Tuesday, July 8th. Hovde Group boosted their price objective on Cadence Bank from $34.00 to $40.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Wall Street Zen cut Cadence Bank from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Stephens lifted their target price on Cadence Bank from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, DA Davidson boosted their price target on Cadence Bank from $37.00 to $42.00 and gave the company a "buy" rating in a report 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 assigned a buy rating to the company. According to data from MarketBeat.com, Cadence Bank has a consensus rating of "Moderate Buy" and an average target price of $40.40.

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.