M&T Bank Corp Purchases New Position in Cadence Bank (NYSE:CADE)

M&T Bank Corp purchased a new stake in Cadence Bank (NYSE:CADEGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,833 shares of the company’s stock, valued at approximately $254,000.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in shares of Cadence Bank in the 2nd quarter valued at approximately $400,000. Teacher Retirement System of Texas grew its stake in shares of Cadence Bank by 5.8% in the 1st quarter. Teacher Retirement System of Texas now owns 39,579 shares of the company’s stock valued at $1,158,000 after buying an additional 2,174 shares in the last quarter. Interval Partners LP grew its stake in shares of Cadence Bank by 43.1% in the 1st quarter. Interval Partners LP now owns 465,943 shares of the company’s stock valued at $13,633,000 after buying an additional 140,403 shares in the last quarter. Walker Asset Management LLC bought a new stake in Cadence Bank during the second quarter worth approximately $319,000. Finally, Beam Wealth Advisors Inc. boosted its position in Cadence Bank by 203.2% during the second quarter. Beam Wealth Advisors Inc. now owns 61,185 shares of the company’s stock worth $1,437,000 after purchasing an additional 41,006 shares during the period.

Cadence Bank Stock Up 0.3 %

Shares of Cadence Bank stock opened at $28.77 on Wednesday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 16.73 and a beta of 0.99. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $26.87 and a two-hundred day moving average price of $25.88. Cadence Bank has a 12-month low of $22.04 and a 12-month high of $34.24.

Cadence Bank (NYSE:CADEGet Rating) last posted its quarterly earnings data on Monday, October 24th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. Cadence Bank had a return on equity of 11.92% and a net margin of 17.78%. The company had revenue of $479.85 million during the quarter, compared to analysts’ expectations of $464.68 million. Equities analysts expect that Cadence Bank will post 2.92 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be given a $0.22 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.06%. Cadence Bank’s dividend payout ratio is 51.16%.

Wall Street Analyst Weigh In

Separately, Stephens upped their target price on Cadence Bank to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th.

About Cadence Bank

(Get Rating)

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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