Wealthcare Advisory Partners LLC Increases Stock Position in Cadence Bank (NYSE:CADE)

Wealthcare Advisory Partners LLC boosted its holdings in Cadence Bank (NYSE:CADE) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,970 shares of the company’s stock after buying an additional 715 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cadence Bank were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CADE. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cadence Bank in the second quarter worth about $265,000. Vanguard Personalized Indexing Management LLC lifted its stake in Cadence Bank by 27.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,483 shares of the company’s stock worth $437,000 after purchasing an additional 3,545 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Cadence Bank in the 2nd quarter worth approximately $492,000. King Luther Capital Management Corp grew its position in shares of Cadence Bank by 5.6% during the 2nd quarter. King Luther Capital Management Corp now owns 126,344 shares of the company’s stock valued at $3,573,000 after purchasing an additional 6,737 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Cadence Bank by 49.7% in the second quarter. Sei Investments Co. now owns 75,128 shares of the company’s stock worth $2,125,000 after purchasing an additional 24,950 shares during the period. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Performance

NYSE CADE opened at $35.65 on Monday. The company has a 50-day simple moving average of $36.29 and a two-hundred day simple moving average of $33.33. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 10.24 and a beta of 1.00. 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 (NYSE:CADE) last issued its earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.09. The company had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. Cadence Bank’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. On average, equities analysts forecast that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Truist Financial raised their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.32.

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.