The Manufacturers Life Insurance Company Sells 45,027 Shares of Cadence Bank (NYSE:CADE)

The Manufacturers Life Insurance Company cut its stake in shares of Cadence Bank (NYSE:CADEFree Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 587,413 shares of the company’s stock after selling 45,027 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.32% of Cadence Bank worth $17,382,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CADE. AlphaMark Advisors LLC increased its holdings in shares of Cadence Bank by 6.8% during the fourth 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. Retirement Systems of Alabama increased its stake in Cadence Bank by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 228,778 shares of the company’s stock valued at $6,770,000 after purchasing an additional 754 shares in the last quarter. Wolverine Asset Management LLC increased its stake in Cadence Bank by 952.0% during the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 952 shares in the last quarter. Ignite Planners LLC raised its holdings in Cadence Bank by 5.6% during the fourth quarter. Ignite Planners LLC now owns 26,689 shares of the company’s stock worth $787,000 after buying an additional 1,412 shares during the last quarter. Finally, Park Place Capital Corp lifted its stake in shares of Cadence Bank by 39.0% in the fourth quarter. Park Place Capital Corp now owns 7,989 shares of the company’s stock valued at $236,000 after buying an additional 2,242 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Down 0.2 %

NYSE CADE opened at $28.36 on Monday. The business’s fifty day moving average is $28.28 and its 200-day moving average is $28.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 9.06 and a beta of 0.99. Cadence Bank has a one year low of $18.97 and a one year high of $31.45.

Cadence Bank (NYSE:CADEGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $437.69 million for the quarter, compared to analyst estimates 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 for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Equities research analysts predict that Cadence Bank will post 2.48 EPS for the current year.

Cadence Bank Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CADE. Stephens reissued an “overweight” rating and set a $33.00 target price on shares of Cadence Bank in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price objective on shares of Cadence Bank in a research note on Tuesday, April 9th. Truist Financial lifted their target price on Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Barclays increased their price target 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $31.09.

View Our Latest Stock Analysis on CADE

Cadence Bank Profile

(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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