6,920 Shares in Cadence Bank (NYSE:CADE) Bought by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC acquired a new position in shares of Cadence Bank (NYSE:CADE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,920 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Cadence Bank by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after buying an additional 436 shares during the last quarter. KBC Group NV grew its position in shares of Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after buying an additional 519 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of Cadence Bank by 5.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company’s stock valued at $307,000 after buying an additional 579 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Cadence Bank by 0.3% in the 1st quarter. Russell Investments Group Ltd. now owns 230,377 shares of the company’s stock valued at $6,681,000 after buying an additional 689 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank in the 3rd quarter valued at about $25,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

CADE has been the topic of a number of analyst reports. Hovde Group upped their price target on Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Piper Sandler downgraded Cadence Bank from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. Truist Financial boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, Royal Bank of Canada boosted their price objective on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.29.

Cadence Bank Stock Down 0.8 %

CADE stock opened at $37.70 on Monday. The stock’s 50 day simple moving average is $33.14 and its 200 day simple moving average is $30.89. Cadence Bank has a fifty-two week low of $24.15 and a fifty-two week high of $39.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $6.87 billion, a P/E ratio of 10.83 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. The firm had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. On average, research analysts expect that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

Cadence Bank Company 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.