Nordea Investment Management AB Buys 1,935 Shares of Cadence Bank (NYSE:CADE)

Nordea Investment Management AB grew its stake in shares of Cadence Bank (NYSE:CADE) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,640 shares of the company’s stock after acquiring an additional 1,935 shares during the period. Nordea Investment Management AB owned about 0.05% of Cadence Bank worth $3,302,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after purchasing an additional 39,679 shares during the period. Cerity Partners LLC increased its stake in shares of Cadence Bank by 31.2% during the third quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after buying an additional 15,312 shares during the period. Stifel Financial Corp raised its holdings in shares of Cadence Bank by 18.1% in the third quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after acquiring an additional 3,218 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after acquiring an additional 291,885 shares during the period. Finally, Franklin Resources Inc. bought a new position in Cadence Bank during the 3rd quarter worth about $947,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CADE shares. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $36.00 to $39.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson lifted their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.32.

Cadence Bank Price Performance

NYSE CADE opened at $33.53 on Friday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 9.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s fifty day moving average price is $36.38 and its 200 day moving average price is $32.98. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20.

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

Cadence Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, December 13th. Cadence Bank’s payout ratio is 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.