GAMMA Investing LLC Has $64,000 Holdings in Cadence Bank (NYSE:CADE)

GAMMA Investing LLC grew its holdings in Cadence Bank (NYSE:CADE) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,862 shares of the company’s stock after buying an additional 301 shares during the period. GAMMA Investing LLC’s holdings in Cadence Bank were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Cadence Bank by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after acquiring an additional 39,679 shares during the last quarter. Cerity Partners LLC increased its stake in Cadence Bank by 31.2% during the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock worth $2,050,000 after acquiring an additional 15,312 shares during the period. Stifel Financial Corp raised its holdings in Cadence Bank by 18.1% in the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after acquiring an additional 3,218 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after acquiring an additional 291,885 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Cadence Bank during the 3rd quarter valued at $947,000. 84.61% of the stock is owned by institutional investors.

Cadence Bank Stock Down 4.5 %

Cadence Bank stock opened at $33.53 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $36.39 and its two-hundred day moving average price is $33.09. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 9.64 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The company had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. Cadence Bank’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities research analysts predict that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.98%. Cadence Bank’s payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

CADE has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price 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. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Truist Financial boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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. According to data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus target price 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.