Nkcfo LLC Takes Position in Cadence Bank $CADE

Nkcfo LLC acquired a new position in shares of Cadence Bank (NYSE:CADE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 53,050 shares of the company’s stock, valued at approximately $1,991,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Cadence Bank by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock worth $85,953,000 after acquiring an additional 244,146 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cadence Bank by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,691 shares of the company’s stock worth $14,290,000 after buying an additional 6,312 shares in the last quarter. CWM LLC boosted its stake in shares of Cadence Bank by 12.3% during the 2nd quarter. CWM LLC now owns 6,511 shares of the company’s stock worth $208,000 after buying an additional 712 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Cadence Bank by 3.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 61,430 shares of the company’s stock worth $1,965,000 after buying an additional 2,198 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Cadence Bank by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 65,352 shares of the company’s stock valued at $2,090,000 after acquiring an additional 3,684 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Down 1.6%

CADE stock opened at $42.14 on Tuesday. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $46.74. The business’s 50 day simple moving average is $43.28 and its 200 day simple moving average is $39.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $7.68 billion, a PE ratio of 14.94 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The firm had revenue of $528.41 million during the quarter, compared to analysts’ expectations of $525.15 million. Cadence Bank had a net margin of 18.12% and a return on equity of 10.16%. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, research analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, January 30th were issued a $0.3438 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.38 annualized dividend and a yield of 3.3%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.28. Cadence Bank’s payout ratio is currently 39.01%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CADE shares. Piper Sandler set a $40.00 target price on Cadence Bank and gave the stock a “neutral” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a research report on Wednesday, January 21st. Barclays downgraded Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Royal Bank Of Canada upgraded shares of Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Finally, Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Bank has a consensus rating of “Hold” and a consensus price target of $42.88.

Cadence Bank Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.