Federated Hermes Inc. Has $5.32 Million Holdings in Cadence Bank (NYSE:CADE)

Federated Hermes Inc. lessened its stake in Cadence Bank (NYSE:CADE) by 5.4% in the fourth quarter, HoldingsChannel reports. The firm owned 179,929 shares of the company’s stock after selling 10,264 shares during the period. Federated Hermes Inc.’s holdings in Cadence Bank were worth $5,324,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its holdings in shares of Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after buying an additional 905 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Cadence Bank by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock worth $142,000 after acquiring an additional 524 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new position in Cadence Bank in the fourth quarter valued at about $205,000. Precedent Wealth Partners LLC bought a new stake in shares of Cadence Bank in the fourth quarter worth about $223,000. Finally, Vest Financial LLC acquired a new stake in shares of Cadence Bank during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CADE shares. TheStreet lowered Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Barclays upped their price target on shares of Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday. Raymond James dropped their price objective on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 31st. Morgan Stanley upped their target price on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Hovde Group raised Cadence Bank from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $32.50 to $33.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.09.

Cadence Bank Stock Down 1.1 %

CADE stock opened at $29.06 on Friday. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 9.28 and a beta of 1.02. Cadence Bank has a twelve month low of $16.95 and a twelve month high of $31.45. The business has a 50 day moving average price of $27.71 and a two-hundred day moving average price of $26.55. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $437.69 million during the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. Analysts anticipate that Cadence Bank will post 2.39 EPS for the current fiscal year.

About Cadence Bank

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.