Intech Investment Management LLC Has $3.62 Million Position in Cadence Bank $CADE

Intech Investment Management LLC raised its holdings in shares of Cadence Bank (NYSE:CADE) by 30.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,375 shares of the company’s stock after purchasing an additional 27,555 shares during the period. Intech Investment Management LLC owned 0.07% of Cadence Bank worth $3,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cadence Bank by 0.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,634 shares of the company’s stock valued at $1,568,000 after acquiring an additional 480 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of Cadence Bank by 8.6% during the first quarter. Johnson Investment Counsel Inc. now owns 7,317 shares of the company’s stock worth $222,000 after purchasing an additional 578 shares during the period. Xponance Inc. increased its holdings in Cadence Bank by 2.3% in the first quarter. Xponance Inc. now owns 26,415 shares of the company’s stock valued at $802,000 after purchasing an additional 587 shares during the last quarter. State of Michigan Retirement System lifted its stake in Cadence Bank by 1.4% in the first quarter. State of Michigan Retirement System now owns 43,910 shares of the company’s stock valued at $1,333,000 after buying an additional 600 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Cadence Bank by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 51,400 shares of the company’s stock worth $1,561,000 after buying an additional 600 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

CADE stock opened at $37.71 on Friday. The stock has a 50-day moving average price of $35.90 and a two-hundred day moving average price of $32.21. Cadence Bank has a 1 year low of $25.22 and a 1 year high of $40.20. The stock has a market cap of $6.87 billion, a PE ratio of 13.42 and a beta of 0.91. 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 posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $476.32 million during the quarter, compared to the consensus estimate 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 company earned $0.73 earnings per share. Equities analysts forecast that Cadence Bank will post 2.94 EPS 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. Investors of record on Monday, September 15th will be given a $0.275 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. Cadence Bank’s dividend payout ratio (DPR) is 39.15%.

Analyst Ratings Changes

A number of brokerages have recently commented on CADE. Royal Bank Of Canada upped their price target on Cadence Bank from $34.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Wall Street Zen downgraded shares of Cadence Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Stephens lifted their price target on shares of Cadence Bank from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. DA Davidson upped their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Hovde Group lifted their target price on Cadence Bank from $34.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

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.