Curi RMB Capital LLC Sells 50,000 Shares of Cadence Bank (NYSE:CADE)

Curi RMB Capital LLC lessened its stake in Cadence Bank (NYSE:CADE) by 50.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 50,000 shares during the quarter. Curi RMB Capital LLC’s holdings in Cadence Bank were worth $1,592,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Cadence Bank by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock worth $587,867,000 after buying an additional 940,895 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cadence Bank by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock worth $277,874,000 after purchasing an additional 593,878 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Cadence Bank during the 3rd quarter worth approximately $5,511,000. Leuthold Group LLC bought a new stake in shares of Cadence Bank during the 3rd quarter worth approximately $2,743,000. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of Cadence Bank by 28.6% in the 3rd quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company’s stock valued at $9,394,000 after buying an additional 65,595 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Hovde Group upped their price objective on Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Barclays raised their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. DA Davidson upped their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Piper Sandler downgraded shares of Cadence Bank from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $33.00 to $34.00 in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.29.

Cadence Bank Stock Down 0.9 %

CADE stock opened at $37.69 on Friday. The company’s 50 day moving average is $33.14 and its 200 day moving average is $30.85. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 10.83 and a beta of 0.95. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 1-year low of $24.15 and a 1-year high of $39.79.

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

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is 28.74%.

Cadence Bank 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.