Cadence Bank (NYSE:CADE) Shares Acquired by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP increased its stake in shares of Cadence Bank (NYSE:CADE) by 31.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 15,699 shares of the company’s stock after purchasing an additional 3,725 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Cadence Bank were worth $500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after buying an additional 436 shares during the last quarter. KBC Group NV raised its position in Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares during the last quarter. Algert Global LLC boosted its stake in Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after purchasing an additional 522 shares during the period. AlphaMark Advisors LLC grew its position in Cadence Bank by 5.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company’s stock worth $307,000 after purchasing an additional 579 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Cadence Bank in the third quarter valued at $25,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CADE. DA Davidson raised their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Royal Bank of Canada increased their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Barclays boosted their price objective 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. Finally, Truist Financial upped 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. Five investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.29.

Cadence Bank Stock Down 1.7 %

CADE stock opened at $38.63 on Wednesday. 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 company’s 50-day moving average price is $33.99 and its 200 day moving average price is $31.26. Cadence Bank has a 52 week low of $24.15 and a 52 week high of $40.20. The company has a market cap of $7.04 billion, a P/E ratio of 11.10 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last announced its quarterly 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. 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 previous year, the company earned $0.56 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts expect 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

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.