Cadence Bank $CADE Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC increased its holdings in shares of Cadence Bank (NYSE:CADE) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 857,170 shares of the company’s stock after purchasing an additional 3,709 shares during the period. William Blair Investment Management LLC owned 0.47% of Cadence Bank worth $27,412,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in Cadence Bank by 312.7% during the 1st quarter. Teacher Retirement System of Texas now owns 49,592 shares of the company’s stock worth $1,506,000 after purchasing an additional 37,576 shares during the period. Principal Financial Group Inc. boosted its stake in Cadence Bank by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 425,330 shares of the company’s stock worth $12,913,000 after purchasing an additional 5,221 shares during the period. State of Alaska Department of Revenue boosted its stake in Cadence Bank by 3.1% during the 1st quarter. State of Alaska Department of Revenue now owns 21,500 shares of the company’s stock worth $652,000 after purchasing an additional 640 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Cadence Bank by 2.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 69,707 shares of the company’s stock worth $2,116,000 after purchasing an additional 1,670 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Cadence Bank by 55.3% in the 1st quarter. GAMMA Investing LLC now owns 2,892 shares of the company’s stock worth $88,000 after acquiring an additional 1,030 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 $36.57 on Monday. The company has a 50-day simple moving average of $37.28 and a 200-day simple moving average of $33.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $6.66 billion, a PE ratio of 13.01 and a beta of 0.88. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.23.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $476.32 million during the quarter, compared to the consensus estimate of $467.60 million. Cadence Bank had a net margin of 18.79% and a return on equity of 9.84%. During the same quarter last year, the firm posted $0.73 EPS. Equities research analysts predict that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Cadence Bank’s dividend payout ratio (DPR) is currently 39.15%.

Analysts Set New Price Targets

CADE has been the subject of several recent analyst reports. Zacks Research cut shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Royal Bank Of Canada raised their target price on shares of Cadence Bank from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Stephens raised their target price on shares of Cadence Bank from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Piper Sandler raised their target price on shares of Cadence Bank from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Barclays raised their target price on shares of Cadence Bank from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.00.

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.