Capital Fund Management S.A. Buys New Position in Cadence Bank $CADE

Capital Fund Management S.A. bought a new stake in Cadence Bank (NYSE:CADE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 17,544 shares of the company’s stock, valued at approximately $561,000.

Several other hedge funds have also made changes to their positions in CADE. LPL Financial LLC increased its stake in Cadence Bank by 0.6% during the 1st quarter. LPL Financial LLC now owns 150,402 shares of the company’s stock worth $4,566,000 after buying an additional 927 shares during the period. XTX Topco Ltd grew its stake in shares of Cadence Bank by 7.3% in the first quarter. XTX Topco Ltd now owns 11,232 shares of the company’s stock worth $341,000 after acquiring an additional 769 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Cadence Bank during the first quarter worth $438,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Cadence Bank in the first quarter valued at $1,151,000. Finally, Entropy Technologies LP acquired a new stake in shares of Cadence Bank in the first quarter valued at $977,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Down 1.4%

Shares of CADE opened at $41.44 on Friday. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 15.01 and a beta of 0.97. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $42.17. The stock has a 50 day moving average price of $38.29 and a 200 day moving average price of $35.70.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. The business had revenue of $517.24 million during the quarter, compared to the consensus estimate of $523.60 million. During the same quarter in the previous year, the firm earned $0.73 EPS. On average, equities analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, December 15th. Cadence Bank’s dividend payout ratio is currently 39.86%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CADE. Morgan Stanley downgraded Cadence Bank from an “overweight” rating to a “sell” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, October 8th. Royal Bank Of Canada raised shares of Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Zacks Research cut shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Piper Sandler set a $40.00 price objective on shares of Cadence Bank and gave the company a “neutral” rating in a report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.33.

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.