GAMMA Investing LLC Buys 301 Shares of Cadence Bank (NYSE:CADE)

GAMMA Investing LLC boosted its stake in Cadence Bank (NYSE:CADE) by 19.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,862 shares of the company’s stock after buying an additional 301 shares during the period. GAMMA Investing LLC’s holdings in Cadence Bank were worth $64,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. KBC Group NV raised 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 buying an additional 519 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Cadence Bank by 2.8% during the third quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after purchasing an additional 522 shares during the period. HighTower Advisors LLC grew its stake in shares of Cadence Bank by 1.4% in the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares during the last quarter. Tidal Investments LLC increased its holdings in Cadence Bank by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 9,769 shares of the company’s stock valued at $311,000 after purchasing an additional 730 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in Cadence Bank during the 3rd quarter valued at approximately $25,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CADE has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Truist Financial increased their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.32.

Cadence Bank Stock Performance

Shares of NYSE CADE opened at $33.53 on Monday. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20. The firm has a 50 day moving average of $36.39 and a 200 day moving average of $33.09. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 9.64 and a beta of 1.00. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (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 period in the prior year, the company posted $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, research analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.98%. Cadence Bank’s payout ratio is 28.74%.

Cadence Bank 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.