Stifel Financial Corp Acquires 3,218 Shares of Cadence Bank (NYSE:CADE)

Stifel Financial Corp raised its holdings in Cadence Bank (NYSE:CADE) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,034 shares of the company’s stock after acquiring an additional 3,218 shares during the period. Stifel Financial Corp’s holdings in Cadence Bank were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Cadence Bank in the third quarter valued at approximately $302,000. Point72 DIFC Ltd bought a new stake in Cadence Bank in the 3rd quarter valued at $304,000. Point72 Asset Management L.P. acquired a new position in Cadence Bank in the 3rd quarter worth $11,727,000. HighTower Advisors LLC increased its holdings in Cadence Bank by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Cadence Bank in the 3rd quarter valued at about $318,000. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Up 0.5 %

CADE opened at $34.77 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $6.34 billion, a P/E ratio of 9.99 and a beta of 0.98. Cadence Bank has a fifty-two week low of $24.99 and a fifty-two week high of $40.20. The stock has a fifty day moving average of $36.14 and a 200-day moving average of $32.47.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same quarter in the prior year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts expect that Cadence Bank will post 2.71 EPS for the current 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CADE shares. Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial upped their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Finally, DA Davidson raised their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.88.

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.