Wealthcare Advisory Partners LLC Grows Stock Position in Cadence Bank $CADE

Key Points

• Wealthcare Advisory Partners LLC increased its stake in Cadence Bank by 64.4% in the second quarter, bringing its total to 34,682 shares valued at approximately $1,109,000.
• Cadence Bank's recent earnings report showed an earnings per share (EPS) of $0.73, exceeding analyst expectations, with a revenue of $476.32 million for the quarter.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $40.90, indicating potential for growth.

Wealthcare Advisory Partners LLC raised its holdings in Cadence Bank (NYSE:CADE - Free Report) by 64.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,682 shares of the company's stock after buying an additional 13,589 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in Cadence Bank were worth $1,109,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CADE. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cadence Bank in the first quarter worth about $40,000. Abound Wealth Management raised its stake in shares of Cadence Bank by 223.3% in the first quarter. Abound Wealth Management now owns 1,665 shares of the company's stock worth $51,000 after purchasing an additional 1,150 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Cadence Bank by 169.6% in the first quarter. UMB Bank n.a. now owns 1,774 shares of the company's stock worth $54,000 after purchasing an additional 1,116 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cadence Bank by 55.3% in the first quarter. GAMMA Investing LLC now owns 2,892 shares of the company's stock worth $88,000 after purchasing an additional 1,030 shares during the last quarter. Finally, CX Institutional purchased a new position in shares of Cadence Bank in the first quarter worth about $122,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Up 0.8%

Shares of CADE opened at $39.04 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.20. The stock's 50 day moving average is $36.68 and its two-hundred day moving average is $33.03. The firm has a market cap of $7.11 billion, a P/E ratio of 13.89 and a beta of 0.88.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.84% and a net margin of 18.79%.The company had revenue of $476.32 million for the quarter, compared to analyst estimates of $467.60 million. During the same period last year, the company earned $0.73 earnings per share. 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 declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. Cadence Bank's payout ratio is currently 39.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CADE shares. Hovde Group raised their price objective on Cadence Bank from $34.00 to $40.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. Piper Sandler raised their price objective on Cadence Bank from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Morgan Stanley raised their target price on Cadence Bank from $38.00 to $47.00 and gave the stock an "overweight" rating in a report on Monday, September 29th. Keefe, Bruyette & Woods raised their target price on Cadence Bank from $40.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, DA Davidson raised their target price 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 five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.90.

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.

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