Federated Hermes Inc. Buys 32,455 Shares of Cadence Bank $CADE

Federated Hermes Inc. increased its holdings in Cadence Bank (NYSE:CADE) by 41.4% in the third quarter, Holdings Channel reports. The institutional investor owned 110,808 shares of the company’s stock after buying an additional 32,455 shares during the period. Federated Hermes Inc.’s holdings in Cadence Bank were worth $4,160,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its position in Cadence Bank by 77.1% during the second quarter. Gamco Investors INC. ET AL now owns 148,550 shares of the company’s stock worth $4,751,000 after buying an additional 64,690 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Cadence Bank by 59.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 117,552 shares of the company’s stock worth $4,413,000 after acquiring an additional 43,944 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Cadence Bank during the second quarter valued at about $8,835,000. Nordea Investment Management AB grew its position in Cadence Bank by 1.6% during the 2nd quarter. Nordea Investment Management AB now owns 101,585 shares of the company’s stock worth $3,266,000 after acquiring an additional 1,560 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Cadence Bank by 125.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 209,194 shares of the company’s stock worth $7,853,000 after purchasing an additional 116,491 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CADE has been the subject of a number of research analyst reports. Piper Sandler set a $40.00 price target on Cadence Bank and gave the stock a “neutral” rating in a research note on Monday, October 27th. Royal Bank Of Canada raised Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Keefe, Bruyette & Woods downgraded shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and raised their price target for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Morgan Stanley cut shares of Cadence Bank from an “overweight” rating to a “sell” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.88.

Cadence Bank Price Performance

CADE stock opened at $42.14 on Wednesday. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $46.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $43.15 and a 200 day moving average price of $39.18. The stock has a market cap of $7.68 billion, a PE ratio of 14.94 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last issued its earnings results on Thursday, January 22nd. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $528.41 million during the quarter, compared to analysts’ expectations of $525.15 million. Cadence Bank had a return on equity of 10.16% and a net margin of 18.12%.During the same period in the prior year, the business earned $0.70 EPS. Equities research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, January 30th will be given a dividend of $0.3438 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.28. This represents a $1.38 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, January 30th. Cadence Bank’s dividend payout ratio (DPR) is 39.01%.

Cadence Bank Company Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.