Wolverine Asset Management LLC Buys 952 Shares of Cadence Bank (NYSE:CADE)

Wolverine Asset Management LLC increased its stake in Cadence Bank (NYSE:CADE) by 952.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,052 shares of the company’s stock after purchasing an additional 952 shares during the quarter. Wolverine Asset Management LLC’s holdings in Cadence Bank were worth $31,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its stake 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 worth $31,000 after buying an additional 905 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Cadence Bank by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock worth $142,000 after purchasing an additional 524 shares during the last quarter. Hardy Reed LLC bought a new stake in shares of Cadence Bank during the 3rd quarter valued at about $203,000. Moody Lynn & Lieberson LLC purchased a new stake in shares of Cadence Bank during the 4th quarter valued at about $205,000. Finally, Precedent Wealth Partners LLC bought a new position in shares of Cadence Bank in the 4th quarter worth approximately $223,000. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price objective on shares of Cadence Bank in a research note on Tuesday, April 9th. Barclays boosted their price target on Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Jefferies Financial Group lowered their price objective on Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, DA Davidson restated a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Five investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.09.

Cadence Bank Stock Down 0.1 %

CADE opened at $29.02 on Monday. Cadence Bank has a 52 week low of $16.95 and a 52 week high of $31.45. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $27.74 and a two-hundred day simple moving average of $26.67. The company has a market capitalization of $5.30 billion, a PE ratio of 9.27 and a beta of 1.02.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $437.69 million during the quarter, compared to analysts’ expectations 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 last year, the business posted $0.68 EPS. Analysts forecast that Cadence Bank will post 2.48 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, June 14th. Cadence Bank’s dividend payout ratio is presently 31.95%.

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.