Interval Partners LP Increases Stock Holdings in Cadence Bank (NYSE:CADE)

Interval Partners LP lifted its stake in shares of Cadence Bank (NYSE:CADEGet Rating) by 43.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 465,943 shares of the company’s stock after buying an additional 140,403 shares during the period. Interval Partners LP owned about 0.43% of Cadence Bank worth $13,633,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its position in shares of Cadence Bank by 1.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,047 shares of the company’s stock valued at $686,000 after buying an additional 431 shares during the last quarter. Ironwood Investment Management LLC boosted its position in shares of Cadence Bank by 1.8% during the first quarter. Ironwood Investment Management LLC now owns 32,825 shares of the company’s stock valued at $960,000 after buying an additional 589 shares during the last quarter. Bank of Montreal Can lifted its holdings in Cadence Bank by 4.4% during the first quarter. Bank of Montreal Can now owns 19,804 shares of the company’s stock worth $603,000 after acquiring an additional 841 shares during the period. Covestor Ltd bought a new stake in Cadence Bank during the fourth quarter worth $25,000. Finally, Crossmark Global Holdings Inc. lifted its holdings in Cadence Bank by 5.9% during the first quarter. Crossmark Global Holdings Inc. now owns 16,083 shares of the company’s stock worth $471,000 after acquiring an additional 900 shares during the period.

Cadence Bank Stock Performance

Shares of CADE opened at $26.16 on Friday. The firm has a market cap of $2.84 billion, a PE ratio of 15.30 and a beta of 1.06. The stock’s fifty day moving average price is $25.52 and its two-hundred day moving average price is $26.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.71 and a quick ratio of 0.71. Cadence Bank has a 1 year low of $22.04 and a 1 year high of $34.24.

Cadence Bank (NYSE:CADEGet Rating) last issued its earnings results on Monday, July 25th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.07. Cadence Bank had a return on equity of 11.07% and a net margin of 17.35%. The firm had revenue of $450.00 million for the quarter, compared to analyst estimates of $443.43 million. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities research analysts forecast that Cadence Bank will post 2.92 EPS for the current year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.36%. Cadence Bank’s payout ratio is 51.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CADE. TheStreet upgraded Cadence Bank from a “c+” rating to a “b-” rating in a report on Friday, May 27th. Truist Financial dropped their price target on Cadence Bank from $32.00 to $30.00 in a report on Wednesday, June 15th. Raymond James dropped their price target on Cadence Bank from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 7th. Stephens lifted their price target on Cadence Bank to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Jefferies Financial Group lowered their target price on Cadence Bank from $28.00 to $26.00 in a research note on Monday, July 11th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cadence Bank has a consensus rating of “Buy” and an average target price of $31.33.

About Cadence Bank

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Cadence Bank provides commercial banking and financial services in the United States. 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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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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