Cadence Bank (NYSE:CADE) Stock Holdings Lessened by Creative Planning

Creative Planning trimmed its stake in Cadence Bank (NYSE:CADE) by 1.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 31,700 shares of the company’s stock after selling 476 shares during the quarter. Creative Planning’s holdings in Cadence Bank were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of 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. Innealta Capital LLC acquired a new position in Cadence Bank in the second quarter worth approximately $138,000. Davis Investment Partners LLC acquired a new position in Cadence Bank in the third quarter worth approximately $202,000. Argent Advisors Inc. bought a new position in shares of Cadence Bank in the first quarter valued at $204,000. Finally, Lavaca Capital LLC acquired a new stake in shares of Cadence Bank during the 1st quarter valued at $207,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CADE has been the topic of a number of recent analyst reports. Barclays boosted 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. Truist Financial boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler cut shares of Cadence Bank from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $33.00 to $34.00 in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and a consensus price target of $35.29.

Cadence Bank Trading Down 1.9 %

Cadence Bank stock opened at $33.43 on Friday. Cadence Bank has a 12 month low of $20.83 and a 12 month high of $34.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. The stock has a market cap of $6.09 billion, a P/E ratio of 10.68 and a beta of 0.96. The company’s fifty day simple moving average is $32.06 and its 200-day simple moving average is $30.15.

Cadence Bank (NYSE:CADE) last posted 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. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The company had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Cadence Bank will post 2.57 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.99%. Cadence Bank’s dividend payout ratio 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.