23,704 Shares in Cadence Bank (NYSE:CADE) Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC purchased a new stake in Cadence Bank (NYSE:CADE) during the second quarter, according to its most recent filing with the SEC. The firm purchased 23,704 shares of the company’s stock, valued at approximately $670,000.

Several other large investors have also recently made changes to their positions in CADE. GAMMA Investing LLC grew its stake in Cadence Bank by 77.0% in 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. Rise Advisors LLC purchased a new position in shares of Cadence Bank in the 1st quarter worth approximately $34,000. Innealta Capital LLC bought a new position in shares of Cadence Bank during the 2nd quarter worth approximately $138,000. Argent Advisors Inc. purchased a new stake in Cadence Bank during the first quarter valued at approximately $204,000. Finally, Lavaca Capital LLC acquired a new stake in Cadence Bank in the first quarter valued at approximately $207,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CADE shares. Barclays increased their price objective on Cadence Bank from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Piper Sandler downgraded Cadence Bank from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $33.00 to $34.00 in a report on Wednesday, July 24th. Jefferies Financial Group cut their price objective on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, Royal Bank of Canada upped their price target on shares of Cadence Bank from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $34.88.

Cadence Bank Stock Performance

NYSE CADE opened at $30.81 on Wednesday. The firm has a market capitalization of $5.61 billion, a P/E ratio of 9.84 and a beta of 0.96. The stock has a 50-day simple moving average of $31.05 and a two-hundred day simple moving average of $29.57. 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 has a fifty-two week low of $19.67 and a fifty-two week high of $34.13.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, July 22nd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.08. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The company had revenue of $742.87 million during the quarter, compared to analysts’ expectations of $439.63 million. During the same period last year, the business earned $0.64 earnings per share. On average, equities analysts forecast 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 was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, September 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 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.