Mutual of America Capital Management LLC Sells 4,062 Shares of Cadence Bank (NYSE:CADE)

Mutual of America Capital Management LLC cut its holdings in Cadence Bank (NYSE:CADE) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,839 shares of the company’s stock after selling 4,062 shares during the period. Mutual of America Capital Management LLC’s holdings in Cadence Bank were worth $3,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CADE. Wolverine Asset Management LLC boosted its holdings in Cadence Bank by 952.0% in the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 952 shares during the period. Rise Advisors LLC bought a new position in Cadence Bank in the 1st quarter valued at $34,000. Moody Lynn & Lieberson LLC bought a new position in Cadence Bank in the 4th quarter valued at $205,000. Argent Advisors Inc. bought a new position in Cadence Bank in the 1st quarter valued at $204,000. Finally, New Perspectives Inc bought a new position in Cadence Bank in the 1st quarter valued at $208,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Barclays lifted their price objective on shares of Cadence Bank from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, June 24th. Truist Financial dropped their price objective on shares of Cadence Bank from $33.00 to $31.00 and set a “buy” rating for the company in a report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $29.58 on Friday. The stock has a market cap of $5.39 billion, a PE ratio of 9.45 and a beta of 0.98. The company’s fifty day moving average is $28.32 and its 200 day moving average is $28.08. Cadence Bank has a 52 week low of $19.67 and a 52 week high of $31.45. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm had revenue of $437.69 million for the quarter, compared to analysts’ expectations of $427.18 million. During the same quarter in the previous year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts anticipate that Cadence Bank will post 2.48 earnings per share for the current year.

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, June 14th. Cadence Bank’s payout ratio is 31.95%.

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.