Vanguard Personalized Indexing Management LLC Acquires 3,545 Shares of Cadence Bank (NYSE:CADE)

Vanguard Personalized Indexing Management LLC grew its stake in Cadence Bank (NYSE:CADE) by 27.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,483 shares of the company’s stock after purchasing an additional 3,545 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Cadence Bank were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Cadence Bank by 77.0% during 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 in the last quarter. Rise Advisors LLC bought a new stake in Cadence Bank during the first quarter worth about $34,000. Innealta Capital LLC acquired a new stake in shares of Cadence Bank during the second quarter worth approximately $138,000. Argent Advisors Inc. bought a new position in shares of Cadence Bank in the first quarter valued at approximately $204,000. Finally, Lavaca Capital LLC acquired a new position in shares of Cadence Bank in the 1st quarter worth approximately $207,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CADE has been the subject of a number of recent analyst reports. Barclays raised their price target on Cadence Bank from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday. Hovde Group lifted their price target on Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a report on Wednesday, July 24th. DA Davidson increased their price objective on shares of Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Stephens reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research note on Tuesday, July 23rd. Finally, Morgan Stanley upped their target price on shares of Cadence Bank from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.63.

Cadence Bank Price Performance

CADE opened at $31.29 on Friday. The company has a fifty day moving average price of $31.35 and a two-hundred day moving average price of $29.38. The firm has a market capitalization of $5.70 billion, a PE ratio of 10.00 and a beta of 0.97. Cadence Bank has a 52 week low of $19.67 and a 52 week high of $34.13. 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 (NYSE:CADE) last released its quarterly earnings data on Monday, July 22nd. The company reported $0.69 EPS for the quarter, beating 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 business had revenue of $742.87 million during the quarter, compared to the consensus estimate of $439.63 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. As a group, analysts anticipate that Cadence Bank will post 2.55 earnings per share for the current year.

Cadence Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. Cadence Bank’s dividend payout ratio is 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.