Cadence Bank (NYSE:CADE) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its stake in Cadence Bank (NYSE:CADE) by 390,500.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,812 shares of the company’s stock after purchasing an additional 7,810 shares during the period. Quest Partners LLC’s holdings in Cadence Bank were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CADE. GAMMA Investing LLC grew its position in Cadence Bank by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after purchasing an additional 436 shares during the last quarter. KBC Group NV increased its position in 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 acquiring an additional 519 shares during the period. AlphaMark Advisors LLC raised its stake in Cadence Bank by 5.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company’s stock valued at $307,000 after acquiring an additional 579 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Cadence Bank during the 3rd quarter worth $25,000. Finally, Arizona State Retirement System grew its stake in shares of Cadence Bank by 1.9% in the second quarter. Arizona State Retirement System now owns 51,159 shares of the company’s stock worth $1,447,000 after purchasing an additional 938 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

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

Cadence Bank Trading Down 1.7 %

Shares of NYSE CADE opened at $38.63 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 12 month low of $24.15 and a 12 month high of $40.20. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 11.10 and a beta of 0.95. The business has a fifty day simple moving average of $33.99 and a 200-day simple moving average of $31.26.

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

Cadence Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, December 13th. Cadence Bank’s dividend payout ratio is currently 28.74%.

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.