Stifel Financial Corp Has $670,000 Stock Position in Cadence Bank (NYSE:CADE)

Stifel Financial Corp grew its stake in shares of Cadence Bank (NYSE:CADE) by 18.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,034 shares of the company’s stock after acquiring an additional 3,218 shares during the period. Stifel Financial Corp’s holdings in Cadence Bank were worth $670,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CADE. KBC Group NV boosted its holdings in shares of Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares in the last quarter. Algert Global LLC raised its position in Cadence Bank by 2.8% in the third quarter. Algert Global LLC now owns 18,920 shares of the company’s stock valued at $603,000 after purchasing an additional 522 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Cadence Bank by 55.8% during the third quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock valued at $50,000 after purchasing an additional 559 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Cadence Bank by 1.4% during the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after purchasing an additional 599 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank during the third quarter worth about $25,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CADE shares. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $36.00 to $39.00 in a report on Monday, September 30th. Truist Financial raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods boosted their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, DA Davidson increased their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and an average target price of $36.88.

Cadence Bank Price Performance

CADE stock opened at $34.77 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average is $36.14 and its 200-day moving average is $32.47. The stock has a market capitalization of $6.34 billion, a PE ratio of 9.99 and a beta of 0.98. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The business had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts expect that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s payout ratio is currently 28.74%.

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.