Wolverine Asset Management LLC increased its holdings in shares of Cadence Bank (NYSE:CADE – Free Report) by 59.4% in the third quarter, Holdings Channel reports. The firm owned 10,917 shares of the company’s stock after acquiring an additional 4,069 shares during the period. Wolverine Asset Management LLC’s holdings in Cadence Bank were worth $348,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Cadence Bank by 139.8% in the first quarter. SG Americas Securities LLC now owns 20,666 shares of the company’s stock worth $599,000 after acquiring an additional 12,047 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Cadence Bank by 0.3% in the 1st quarter. Russell Investments Group Ltd. now owns 230,377 shares of the company’s stock valued at $6,681,000 after purchasing an additional 689 shares in the last quarter. Entropy Technologies LP purchased a new position in Cadence Bank in the first quarter valued at about $716,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Cadence Bank by 32.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 68,892 shares of the company’s stock worth $1,998,000 after purchasing an additional 16,850 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Cadence Bank by 4.9% in the first 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 during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Cadence Bank Trading Down 0.8 %
NYSE:CADE opened at $38.43 on Thursday. The business’s 50 day moving average is $32.87 and its two-hundred day moving average is $30.73. Cadence Bank has a 52 week low of $23.22 and a 52 week high of $39.79. The company has a market cap of $7.00 billion, a PE ratio of 11.04 and a beta of 0.95. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.
Cadence Bank Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.
Wall Street Analyst Weigh In
Several brokerages recently commented on CADE. DA Davidson raised their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and set a $35.00 target price on shares of Cadence Bank in a research report on Tuesday, July 23rd. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $36.00 to $39.00 in a report on Monday, September 30th. Barclays boosted their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their target price on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and an average target price of $35.29.
Get Our Latest Analysis on Cadence Bank
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.
Featured Articles
- Five stocks we like better than Cadence Bank
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Rocket Lab is the Right Stock for the Right Time
- What are earnings reports?
- SoundHound AI Will Advance By Triple Digits in 2025: Here’s Why
- Do ETFs Pay Dividends? What You Need to Know
- Celsius Holdings: Big Drop, Big Opportunity? Analysts Say Yes
Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Bank (NYSE:CADE – Free Report).
Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter.