Cadence Bank (NYSE:CADE) Stock Holdings Boosted by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC boosted its position in Cadence Bank (NYSE:CADE) by 21.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,331,112 shares of the company’s stock after purchasing an additional 237,748 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.73% of Cadence Bank worth $42,396,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank during the third quarter valued at approximately $25,000. GAMMA Investing LLC boosted its position in Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after acquiring an additional 436 shares during the period. Innealta Capital LLC bought a new position in shares of Cadence Bank in the second quarter worth $138,000. KBC Group NV increased its holdings in shares of Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares during the period. Finally, Americana Partners LLC bought a new stake in shares of Cadence Bank during the third quarter valued at about $201,000. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Price Performance

NYSE CADE opened at $37.30 on Wednesday. Cadence Bank has a fifty-two week low of $24.15 and a fifty-two week high of $39.79. The stock’s 50-day moving average is $33.42 and its two-hundred day moving average is $31.01. The firm has a market cap of $6.80 billion, a P/E ratio of 10.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, October 21st. The company reported $0.73 earnings per share 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 firm had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. During the same period in the previous year, the company earned $0.56 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s dividend payout ratio is currently 28.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research report on Tuesday, July 23rd. Piper Sandler lowered shares of Cadence Bank from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. Truist Financial upped their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Hovde Group raised their target price on Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays upped their target price on Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cadence Bank currently has an average rating of “Moderate Buy” and a consensus target price of $35.29.

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.