Quadrature Capital Ltd Takes Position in Cadence Bank (NYSE:CADE)

Quadrature Capital Ltd bought a new position in shares of Cadence Bank (NYSE:CADE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,473 shares of the company’s stock, valued at approximately $302,000.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Cadence Bank by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock valued at $277,874,000 after purchasing an additional 593,878 shares during the period. Point72 Asset Management L.P. bought a new position in Cadence Bank in the 3rd quarter valued at about $11,727,000. Vaughan Nelson Investment Management L.P. lifted its position in Cadence Bank by 16.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after acquiring an additional 291,885 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Cadence Bank by 21.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock worth $42,396,000 after acquiring an additional 237,748 shares during the period. Finally, FMR LLC grew its position in shares of Cadence Bank by 1.2% in the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after purchasing an additional 195,773 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Stock Down 0.6 %

NYSE CADE opened at $36.88 on Wednesday. The business has a fifty day moving average price of $35.33 and a two-hundred day moving average price of $31.95. The stock has a market capitalization of $6.72 billion, a PE ratio of 10.60 and a beta of 0.98. Cadence Bank has a fifty-two week low of $24.99 and a fifty-two week high of $40.20. 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 released its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.09. The business had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. Cadence Bank’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Equities analysts expect that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CADE. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. DA Davidson raised their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Five research 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’s stock. Based on data from MarketBeat, Cadence Bank has an average rating of “Moderate Buy” and a consensus target price of $36.63.

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.