Steward Partners Investment Advisory LLC Boosts Stock Position in Cadence Bank $CADE

Steward Partners Investment Advisory LLC lifted its position in Cadence Bank (NYSE:CADE) by 2,696.1% during the second quarter, Holdings Channel reports. The institutional investor owned 63,696 shares of the company’s stock after buying an additional 61,418 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Cadence Bank were worth $2,037,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in Cadence Bank in the second quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Cadence Bank during the 1st quarter valued at $40,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Cadence Bank by 47.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,870 shares of the company’s stock worth $60,000 after purchasing an additional 600 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cadence Bank during the 2nd quarter worth $65,000. Finally, Americana Partners LLC acquired a new position in Cadence Bank during the 2nd quarter valued at about $201,000. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CADE shares. Royal Bank Of Canada raised Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Zacks Research lowered shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, October 8th. Morgan Stanley lowered shares of Cadence Bank from an “overweight” rating to a “sell” rating in a research note on Tuesday, October 28th. Finally, Piper Sandler set a $40.00 price target on shares of Cadence Bank and gave the stock a “neutral” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.33.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $39.84 on Friday. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.23. The company’s 50 day moving average is $37.90 and its 200 day moving average is $35.40. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The company has a market cap of $7.26 billion, a PE ratio of 14.43 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 20th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.77 by $0.04. The business had revenue of $517.24 million during the quarter, compared to analysts’ expectations of $523.60 million. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. During the same period in the previous year, the business posted $0.73 EPS. On average, sell-side analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 15th. Cadence Bank’s dividend payout ratio is presently 39.86%.

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.