GAMMA Investing LLC Has $57,000 Stock Position in Cadence Bank $CADE

GAMMA Investing LLC cut its stake in shares of Cadence Bank (NYSE:CADE) by 38.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,772 shares of the company’s stock after selling 1,120 shares during the quarter. GAMMA Investing LLC’s holdings in Cadence Bank were worth $57,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Cadence Bank by 7.8% during the first quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company’s stock worth $409,301,000 after acquiring an additional 980,369 shares during the last quarter. AQR Capital Management LLC grew its stake in Cadence Bank by 1,802.4% in the first quarter. AQR Capital Management LLC now owns 764,776 shares of the company’s stock valued at $22,790,000 after acquiring an additional 724,576 shares during the period. Nuveen LLC acquired a new position in Cadence Bank in the first quarter valued at about $20,090,000. Bessemer Group Inc. grew its stake in Cadence Bank by 76,386.7% in the first quarter. Bessemer Group Inc. now owns 615,718 shares of the company’s stock valued at $18,694,000 after acquiring an additional 614,913 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Cadence Bank by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock valued at $85,953,000 after acquiring an additional 244,146 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

CADE has been the topic of a number of research reports. Barclays restated an “overweight” rating and issued a $41.00 price target (up from $38.00) on shares of Cadence Bank in a report on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a report on Saturday, September 27th. Piper Sandler boosted their price target on Cadence Bank from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Royal Bank Of Canada boosted their price target on Cadence Bank from $34.00 to $37.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Finally, Zacks Research lowered Cadence Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.90.

Cadence Bank Price Performance

NYSE:CADE opened at $37.79 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $36.56 and its two-hundred day moving average price is $32.89. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 13.45 and a beta of 0.88. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20.

Cadence Bank (NYSE:CADE) last posted 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. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.The company had revenue of $476.32 million for the quarter, compared to the consensus estimate of $467.60 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. On average, analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, September 15th. Cadence Bank’s dividend payout ratio (DPR) is currently 39.15%.

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.