Moody National Bank Trust Division Increases Position in Cadence Bank (NYSE:CADE)

Moody National Bank Trust Division lifted its position in shares of Cadence Bank (NYSE:CADE) by 6.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,866 shares of the company’s stock after buying an additional 2,141 shares during the quarter. Moody National Bank Trust Division’s holdings in Cadence Bank were worth $1,236,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Cadence Bank by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after acquiring an additional 301 shares during the period. KBC Group NV lifted its holdings in Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares in the last quarter. Algert Global LLC boosted its stake in Cadence Bank by 2.8% in the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after purchasing an additional 522 shares during the period. HighTower Advisors LLC grew its holdings in Cadence Bank by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after buying an additional 599 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Cadence Bank by 8.1% during the third quarter. Tidal Investments LLC now owns 9,769 shares of the company’s stock valued at $311,000 after buying an additional 730 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

CADE has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Truist Financial raised their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price target on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, DA Davidson upped their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.32.

Cadence Bank Price Performance

Shares of Cadence Bank stock opened at $33.88 on Tuesday. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 9.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day moving average price of $36.41 and a 200-day moving average price of $33.13. Cadence Bank has a one year low of $24.99 and a one year high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company 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 firm earned $0.56 earnings per share. Cadence Bank’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is currently 28.74%.

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.