38,638 Shares in Cadence Bank $CADE Bought by EJF Capital LLC

EJF Capital LLC acquired a new stake in shares of Cadence Bank (NYSE:CADE) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 38,638 shares of the company’s stock, valued at approximately $1,450,000.

A number of other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. boosted its holdings in Cadence Bank by 41.4% during the third quarter. Federated Hermes Inc. now owns 110,808 shares of the company’s stock worth $4,160,000 after purchasing an additional 32,455 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Cadence Bank by 77.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 148,550 shares of the company’s stock worth $4,751,000 after buying an additional 64,690 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Cadence Bank in the 3rd quarter worth approximately $1,810,000. SouthState Bank Corp purchased a new position in shares of Cadence Bank in the 3rd quarter worth approximately $2,211,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Cadence Bank by 59.7% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 117,552 shares of the company’s stock valued at $4,413,000 after acquiring an additional 43,944 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CADE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Bank in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods cut Cadence Bank from a “moderate buy” rating to a “hold” rating and lifted their target price for the stock from $41.00 to $49.00 in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.88.

Cadence Bank Trading Down 1.6%

Shares of CADE opened at $42.14 on Friday. The business has a 50-day moving average of $43.18 and a 200 day moving average of $40.05. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $46.74. The firm has a market cap of $7.68 billion, a P/E ratio of 14.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.79 by $0.06. The business had revenue of $528.41 million for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.70 earnings per share. As a group, research analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

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

Cadence Bank Company 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.