Campbell & CO Investment Adviser LLC Buys Shares of 19,887 Cadence Bank (NYSE:CADE)

Campbell & CO Investment Adviser LLC purchased a new position in shares of Cadence Bank (NYSE:CADEFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,887 shares of the company’s stock, valued at approximately $588,000.

Several other institutional investors have also modified their holdings of CADE. TFO Wealth Partners LLC increased its position in Cadence Bank by 162,585.7% during the fourth quarter. TFO Wealth Partners LLC now owns 11,388 shares of the company’s stock worth $337,000 after purchasing an additional 11,381 shares during the last quarter. Hsbc Holdings PLC raised its position in Cadence Bank by 22.5% in the fourth quarter. Hsbc Holdings PLC now owns 394,845 shares of the company’s stock valued at $11,801,000 after purchasing an additional 72,576 shares during the period. Linscomb & Williams Inc. boosted its position in shares of Cadence Bank by 51.0% during the fourth quarter. Linscomb & Williams Inc. now owns 71,572 shares of the company’s stock worth $2,118,000 after buying an additional 24,162 shares during the period. Halter Ferguson Financial Inc. purchased a new stake in shares of Cadence Bank in the 4th quarter valued at $3,023,000. Finally, Avantax Planning Partners Inc. purchased a new stake in shares of Cadence Bank in the 4th quarter valued at $234,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

CADE has been the subject of several research reports. Barclays lifted their target price on Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Hovde Group raised shares of Cadence Bank from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $32.50 to $33.00 in a research note on Wednesday, April 24th. Jefferies Financial Group reduced their target price on shares of Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Stephens restated an “overweight” rating and issued a $33.00 price target on shares of Cadence Bank in a research note on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.09.

View Our Latest Stock Report on Cadence Bank

Cadence Bank Price Performance

CADE stock opened at $28.36 on Friday. The business has a 50 day moving average price of $28.28 and a 200 day moving average price of $27.99. 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 stock has a market cap of $5.17 billion, a price-to-earnings ratio of 9.06 and a beta of 0.99. Cadence Bank has a fifty-two week low of $18.97 and a fifty-two week high of $31.45.

Cadence Bank (NYSE:CADEGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $437.69 million during the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. Equities research analysts anticipate that Cadence Bank will post 2.48 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Friday, June 14th. Cadence Bank’s payout ratio is 31.95%.

About Cadence Bank

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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