Dynamic Technology Lab Private Ltd Acquires New Holdings in Cadence Bank (NYSE:CADE)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cadence Bank (NYSE:CADE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,454 shares of the company’s stock, valued at approximately $492,000.

Several other hedge funds also recently bought and sold shares of CADE. Dimensional Fund Advisors LP grew its stake in Cadence Bank by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock valued at $277,874,000 after acquiring an additional 593,878 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Cadence Bank by 16.3% during the third 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. Segall Bryant & Hamill LLC grew its stake in Cadence Bank by 21.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after acquiring an additional 237,748 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Cadence Bank during the third quarter valued at approximately $5,511,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Cadence Bank by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock valued at $71,423,000 after acquiring an additional 105,231 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Down 0.3 %

Shares of Cadence Bank stock opened at $38.19 on Friday. 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 12-month low of $24.74 and a 12-month high of $40.20. The company has a market cap of $6.96 billion, a P/E ratio of 10.97 and a beta of 0.95. The company’s fifty day simple moving average is $34.36 and its two-hundred day simple moving average is $31.43.

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. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The firm had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. During the same period last year, the company posted $0.56 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CADE shares. Royal Bank of Canada lifted their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company 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 lifted their target price for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Barclays lifted their target price on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Five research 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.29.

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.