Cadence Bank (NYSE:CADE) Shares Sold by Xponance Inc.

Xponance Inc. lessened its holdings in shares of Cadence Bank (NYSE:CADE) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,709 shares of the company’s stock after selling 1,508 shares during the period. Xponance Inc.’s holdings in Cadence Bank were worth $699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CADE. Vanguard Group Inc. grew its holdings in shares of Cadence Bank by 4.9% during the first quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock valued at $587,867,000 after purchasing an additional 940,895 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Cadence Bank by 32.4% in 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 buying an additional 16,850 shares during the period. Entropy Technologies LP acquired a new stake in Cadence Bank in the first quarter worth $716,000. Blue Trust Inc. lifted its stake in Cadence Bank by 456.6% in the second quarter. Blue Trust Inc. now owns 21,667 shares of the company’s stock valued at $628,000 after buying an additional 17,774 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Cadence Bank by 14.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,759,818 shares of the company’s stock valued at $51,034,000 after acquiring an additional 227,395 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Performance

Shares of CADE opened at $31.28 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50 day moving average is $31.35 and its 200-day moving average is $29.40. Cadence Bank has a 12-month low of $19.67 and a 12-month high of $34.13. The stock has a market capitalization of $5.70 billion, a P/E ratio of 9.99 and a beta of 0.97.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The company had revenue of $742.87 million for the quarter, compared to analysts’ expectations of $439.63 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts anticipate that Cadence Bank will post 2.55 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, September 13th. Cadence Bank’s dividend payout ratio is 31.95%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CADE shares. Truist Financial cut their price objective on shares of Cadence Bank from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada lifted their price target on Cadence Bank from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Jefferies Financial Group lowered their target price on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. DA Davidson boosted their price target on Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays increased their price target on Cadence Bank from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.63.

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.