GAMMA Investing LLC Acquires 559 Shares of Cadence Bank (NYSE:CADE)

GAMMA Investing LLC boosted its stake in shares of Cadence Bank (NYSE:CADE) by 55.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,561 shares of the company’s stock after acquiring an additional 559 shares during the quarter. GAMMA Investing LLC’s holdings in Cadence Bank were worth $50,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Cadence Bank by 7.3% during the 4th quarter. Wellington Management Group LLP now owns 8,402,615 shares of the company’s stock worth $248,633,000 after purchasing an additional 574,633 shares during the period. Vanguard Group Inc. raised its holdings in shares of Cadence Bank by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,330,388 shares of the company’s stock worth $571,986,000 after buying an additional 157,523 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Cadence Bank by 19.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the company’s stock worth $429,000 after acquiring an additional 2,376 shares during the last quarter. Rise Advisors LLC purchased a new position in Cadence Bank during the 1st quarter valued at $34,000. Finally, Inscription Capital LLC bought a new position in Cadence Bank in the 1st quarter valued at $427,000. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

CADE has been the subject of several research analyst reports. Jefferies Financial Group decreased their target price on Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Stephens restated an “overweight” rating and set a $35.00 price target on shares of Cadence Bank in a research note on Tuesday, July 23rd. DA Davidson upped their price objective on shares of Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Barclays upped their price target on shares of Cadence Bank from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $34.88.

Cadence Bank Stock Up 1.6 %

CADE opened at $33.38 on Thursday. The company has a fifty day moving average of $31.32 and a two-hundred day moving average of $29.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. Cadence Bank has a fifty-two week low of $19.67 and a fifty-two week high of $34.13. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 10.66 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Monday, July 22nd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The company had revenue of $742.87 million during the quarter, compared to analysts’ expectations of $439.63 million. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, research analysts expect that Cadence Bank will post 2.57 earnings per share for the current year.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.00%. The ex-dividend date was Friday, September 13th. Cadence Bank’s payout ratio is presently 31.95%.

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.