Signaturefd LLC Trims Stake in Cadence Bank (NYSE:CADE)

Signaturefd LLC lessened its position in shares of Cadence Bank (NYSE:CADEFree Report) by 67.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,797 shares of the company’s stock after selling 10,000 shares during the quarter. Signaturefd LLC’s holdings in Cadence Bank were worth $153,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CADE. Vanguard Group Inc. grew its position in shares of Cadence Bank by 4.9% during the first quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock worth $587,867,000 after acquiring an additional 940,895 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cadence Bank by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock worth $277,874,000 after purchasing an additional 593,878 shares during the period. Bank of New York Mellon Corp grew its position in Cadence Bank by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,088,804 shares of the company’s stock worth $59,071,000 after purchasing an additional 36,323 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Cadence Bank by 1.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,791,633 shares of the company’s stock valued at $50,667,000 after purchasing an additional 31,815 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of Cadence Bank by 8.0% in the second quarter. Natixis Advisors LLC now owns 419,375 shares of the company’s stock valued at $11,860,000 after buying an additional 30,945 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CADE shares. Piper Sandler cut Cadence Bank from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $33.00 to $34.00 in a research report on Wednesday, July 24th. Royal Bank of Canada upped their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Hovde Group lifted their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Stephens restated an “overweight” rating and set a $35.00 price objective on shares of Cadence Bank in a research report on Tuesday, July 23rd. Finally, DA Davidson lifted their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cadence Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

Get Our Latest Stock Analysis on Cadence Bank

Cadence Bank Trading Down 2.4 %

Shares of Cadence Bank stock opened at $33.09 on Monday. The company has a 50-day moving average of $31.83 and a two-hundred day moving average of $30.00. The stock has a market cap of $6.03 billion, a PE ratio of 10.57 and a beta of 0.96. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. Cadence Bank has a 12-month low of $20.52 and a 12-month high of $34.25.

Cadence Bank (NYSE:CADEGet Free Report) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The firm had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. Cadence Bank’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, research analysts anticipate that Cadence Bank will post 2.57 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 3.02%. Cadence Bank’s dividend payout ratio (DPR) is currently 31.95%.

Cadence Bank Company 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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