Cadence Bank (NYSE:CADE) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in Cadence Bank (NYSE:CADE) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,596 shares of the company’s stock after selling 5,998 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cadence Bank were worth $3,140,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank during the 3rd quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Cadence Bank by 77.0% during the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after purchasing an additional 436 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Cadence Bank in the 2nd quarter valued at $138,000. KBC Group NV increased its stake in Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares in the last quarter. Finally, Americana Partners LLC purchased a new position in Cadence Bank in the 3rd quarter worth about $201,000. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

NYSE CADE opened at $38.88 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $7.08 billion, a PE ratio of 11.17 and a beta of 0.95. Cadence Bank has a 12-month low of $24.15 and a 12-month high of $39.79. The company has a 50 day moving average price of $33.84 and a two-hundred day moving average price of $31.17.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.09. The business had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. Cadence Bank’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, equities analysts predict that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Truist Financial increased their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson increased their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.29.

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.