Cadence Bank (NYSE:CADE) Stock Holdings Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of Cadence Bank (NYSE:CADE) by 3.9% in the third quarter, Holdings Channel.com reports. The fund owned 499,490 shares of the company’s stock after selling 20,476 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cadence Bank were worth $15,909,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CADE. V Square Quantitative Management LLC purchased a new stake in shares of Cadence Bank during the third quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in shares of Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after buying an additional 436 shares during the period. Innealta Capital LLC purchased a new position in shares of Cadence Bank in the second quarter worth approximately $138,000. KBC Group NV raised its holdings in shares of Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares during the period. Finally, Americana Partners LLC purchased a new stake in shares of Cadence Bank in the 3rd quarter valued at approximately $201,000. 84.61% of the stock is owned by institutional investors.

Cadence Bank Trading Down 0.3 %

Cadence Bank stock opened at $38.19 on Monday. Cadence Bank has a one year low of $24.74 and a one year high of $40.20. The company’s fifty day moving average price is $34.49 and its two-hundred day moving average price is $31.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 10.97 and a beta of 0.95.

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

Cadence Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s dividend payout ratio is 28.74%.

Analysts Set New Price Targets

Several research firms have weighed in on CADE. Truist Financial lifted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays upped their price target on Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised 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. DA Davidson upped their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.29.

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.