Gamco Investors INC. ET AL Increases Position in Cadence Bank $CADE

Gamco Investors INC. ET AL increased its stake in Cadence Bank (NYSE:CADE) by 77.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,550 shares of the company’s stock after acquiring an additional 64,690 shares during the period. Gamco Investors INC. ET AL owned about 0.08% of Cadence Bank worth $4,751,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CADE. FNY Investment Advisers LLC bought a new position in shares of Cadence Bank during the second quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Cadence Bank in the first quarter worth approximately $40,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Cadence Bank by 47.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,870 shares of the company’s stock valued at $60,000 after acquiring an additional 600 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Cadence Bank in the 2nd quarter worth $65,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Cadence Bank by 126.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,252 shares of the company’s stock worth $72,000 after buying an additional 1,258 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Performance

NYSE CADE opened at $41.70 on Wednesday. The firm has a market capitalization of $7.60 billion, a P/E ratio of 15.11 and a beta of 0.97. The stock has a 50-day simple moving average of $38.45 and a two-hundred day simple moving average of $35.92. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $42.24.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, October 20th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. The firm had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. Cadence Bank had a return on equity of 9.97% and a net margin of 18.15%.During the same period last year, the company earned $0.73 earnings per share. As a group, analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. Cadence Bank’s dividend payout ratio (DPR) is presently 39.86%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CADE. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Zacks Research downgraded Cadence Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Barclays lowered shares of Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods downgraded Cadence Bank from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Finally, Stephens downgraded shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Cadence Bank presently has a consensus rating of “Hold” and an average target price of $42.33.

Cadence Bank Profile

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.