Russell Investments Group Ltd. Has $6.80 Million Stock Position in Cadence Bank (NYSE:CADE)

Russell Investments Group Ltd. grew its position in Cadence Bank (NYSE:CADE) by 13.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 229,688 shares of the company’s stock after acquiring an additional 27,763 shares during the period. Russell Investments Group Ltd.’s holdings in Cadence Bank were worth $6,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in Cadence Bank by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after acquiring an additional 524 shares in the last quarter. AlphaMark Advisors LLC lifted its position in Cadence Bank by 6.8% in the 4th quarter. AlphaMark Advisors LLC now owns 11,482 shares of the company’s stock valued at $340,000 after acquiring an additional 728 shares in the last quarter. Arizona State Retirement System lifted its position in Cadence Bank by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 52,032 shares of the company’s stock valued at $1,104,000 after acquiring an additional 789 shares in the last quarter. Fifth Third Bancorp lifted its position in 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 acquiring an additional 905 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its position in Cadence Bank by 952.0% in the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after acquiring an additional 952 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CADE. TheStreet cut shares of Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Hovde Group raised shares of Cadence Bank from a “market perform” rating to an “outperform” rating and upped their target price for the company from $32.50 to $33.00 in a report on Wednesday, April 24th. Raymond James dropped their target price 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. Barclays upped their target price on shares of Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and an average target price of $31.09.

Cadence Bank Stock Up 0.1 %

Shares of CADE opened at $29.21 on Thursday. Cadence Bank has a 52 week low of $17.38 and a 52 week high of $31.45. The firm has a market cap of $5.34 billion, a P/E ratio of 9.33 and a beta of 1.01. The firm’s 50-day simple moving average is $27.96 and its 200 day simple moving average is $27.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85.

Cadence Bank (NYSE:CADE) last announced its earnings results on Friday, April 26th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. During the same quarter in the prior year, the business posted $0.68 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. On average, analysts forecast that Cadence Bank will post 2.48 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.42%. Cadence Bank’s payout ratio is presently 31.95%.

Cadence Bank Company 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.