24,400 Shares in Cadence Bank $CADE Purchased by Versor Investments LP

Versor Investments LP purchased a new stake in shares of Cadence Bank (NYSE:CADE) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 24,400 shares of the company’s stock, valued at approximately $916,000.

Other hedge funds also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in Cadence Bank in the 2nd quarter worth approximately $25,000. Mather Group LLC. bought a new position in shares of Cadence Bank in the third quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cadence Bank in the third quarter worth $38,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Cadence Bank in the third quarter worth $39,000. Finally, Osaic Holdings Inc. boosted its stake in Cadence Bank by 24.4% during the second quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock valued at $46,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Down 1.6%

Shares of CADE opened at $42.14 on Wednesday. Cadence Bank has a 1 year low of $25.22 and a 1 year high of $46.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $43.35 and a two-hundred day simple moving average of $39.41. The firm has a market cap of $7.68 billion, a P/E ratio of 14.94 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. Cadence Bank had a net margin of 18.12% and a return on equity of 10.16%. The firm had revenue of $528.41 million for the quarter, compared to the consensus estimate of $525.15 million. During the same period last year, the firm posted $0.70 earnings per share. On average, analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on CADE shares. Piper Sandler set a $40.00 price target on Cadence Bank and gave the company a “neutral” rating in a report on Monday, October 27th. Royal Bank Of Canada upgraded shares of Cadence Bank from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 27th. Morgan Stanley lowered shares of Cadence Bank from an “overweight” rating to a “sell” rating in a research report on Tuesday, October 28th. Stephens cut shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods cut shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank has a consensus rating of “Hold” and an average price target of $42.88.

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.