Cadence Bank Makes New $232,000 Investment in Exelon Co. (NASDAQ:EXC)

Cadence Bank bought a new stake in Exelon Co. (NASDAQ:EXC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,731 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its position in Exelon by 646.2% in the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after purchasing an additional 672 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Exelon during the second quarter worth $28,000. American National Bank & Trust increased its stake in shares of Exelon by 178.8% in the third quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after buying an additional 447 shares in the last quarter. Abound Wealth Management raised its holdings in shares of Exelon by 502.7% in the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after buying an additional 744 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Exelon during the 3rd quarter worth about $32,000. 80.92% of the stock is owned by institutional investors and hedge funds.

Exelon Stock Performance

Shares of EXC stock opened at $39.51 on Friday. The stock has a 50-day moving average of $39.60 and a 200-day moving average of $37.88. Exelon Co. has a one year low of $33.35 and a one year high of $41.42. The stock has a market cap of $39.70 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97.

Exelon (NASDAQ:EXC) last posted its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Exelon Co. will post 2.45 earnings per share for the current year.

Exelon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.85%. Exelon’s payout ratio is 62.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EXC shares. UBS Group boosted their target price on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Scotiabank boosted their price objective on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays increased their price objective on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley decreased their price target on Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.25.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.