Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 9,072 Cadence Bank (NYSE:CADE)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Cadence Bank (NYSE:CADE) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,072 shares of the company’s stock, valued at approximately $275,000.

A number of other institutional investors have also recently bought and sold shares of CADE. Millennium Management LLC raised its holdings in shares of Cadence Bank by 846.1% during the 4th quarter. Millennium Management LLC now owns 1,052,906 shares of the company’s stock valued at $36,273,000 after purchasing an additional 941,613 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Cadence Bank by 76,386.7% in the first quarter. Bessemer Group Inc. now owns 615,718 shares of the company’s stock worth $18,694,000 after buying an additional 614,913 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Cadence Bank by 21.2% in the fourth quarter. First Trust Advisors LP now owns 2,634,335 shares of the company’s stock worth $90,753,000 after buying an additional 460,486 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Cadence Bank by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,684,312 shares of the company’s stock worth $92,475,000 after acquiring an additional 350,660 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Cadence Bank by 70.9% during the 4th quarter. Barclays PLC now owns 754,950 shares of the company’s stock worth $26,007,000 after acquiring an additional 313,281 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

CADE has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Cadence Bank from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Stephens boosted their price objective on Cadence Bank from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Royal Bank Of Canada raised their target price on Cadence Bank from $34.00 to $37.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Finally, Wall Street Zen lowered Cadence Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Cadence Bank Trading Up 2.3%

Shares of NYSE CADE opened at $34.71 on Tuesday. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.20. The company has a 50-day moving average of $32.87 and a two-hundred day moving average of $31.83. The company has a market cap of $6.32 billion, a PE ratio of 12.35 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. The company had revenue of $476.32 million during the quarter, compared to analysts’ expectations of $467.60 million. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%. During the same period last year, the firm earned $0.73 EPS. As a group, equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. Cadence Bank’s payout ratio is currently 39.15%.

Cadence Bank declared that its Board of Directors has initiated a share buyback program on Friday, April 25th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.