UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 11,102 Shares of Cadence Bank (NYSE:CADE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cadence Bank (NYSE:CADE) by 2.8% during the third quarter, HoldingsChannel.com reports. The fund owned 400,920 shares of the company’s stock after purchasing an additional 11,102 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cadence Bank were worth $12,769,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its position in shares of Cadence Bank by 31.2% in the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after buying an additional 15,312 shares during the last quarter. Blue Trust Inc. grew its position in shares of Cadence Bank by 456.6% in the 2nd quarter. Blue Trust Inc. now owns 21,667 shares of the company’s stock valued at $628,000 after buying an additional 17,774 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of 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 buying an additional 291,885 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Cadence Bank by 8.0% in the 2nd quarter. Natixis Advisors LLC now owns 419,375 shares of the company’s stock valued at $11,860,000 after buying an additional 30,945 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of Cadence Bank by 21.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after buying an additional 237,748 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Price Performance

CADE stock opened at $37.62 on Friday. The stock has a market capitalization of $6.86 billion, a PE ratio of 10.81 and a beta of 0.98. The company’s 50-day moving average is $35.10 and its 200-day moving average is $31.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, October 21st. The company reported $0.73 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 the consensus estimate of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities research analysts expect that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s payout ratio is presently 28.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. DA Davidson upped their price target on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted 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. Truist Financial lifted their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.63.

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.