Integrated Wealth Concepts LLC Has $295,000 Stock Position in Cadence Bank (NYSE:CADE)

Integrated Wealth Concepts LLC cut its holdings in shares of Cadence Bank (NYSE:CADE) by 17.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,267 shares of the company’s stock after selling 1,948 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Cadence Bank were worth $295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 593,878 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Cadence Bank by 16.3% during the 3rd 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 holdings in shares of Cadence Bank by 21.7% during the 3rd 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. FMR LLC increased its stake in shares of Cadence Bank by 1.2% in the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock worth $523,074,000 after acquiring an additional 195,773 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Cadence Bank during the third quarter worth $5,511,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CADE shares. Truist Financial increased their target price 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. Keefe, Bruyette & Woods raised their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. DA Davidson boosted their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays increased their price target on Cadence Bank from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.63.

Cadence Bank Trading Down 1.6 %

Shares of CADE stock opened at $36.69 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average of $35.59 and a 200-day moving average of $32.02. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 10.54 and a beta of 0.98.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.73%. Cadence Bank’s dividend payout ratio is currently 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.