Cadence Bank $CADE Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in shares of Cadence Bank (NYSE:CADE) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 110,144 shares of the company’s stock after selling 9,231 shares during the period. Intech Investment Management LLC’s holdings in Cadence Bank were worth $3,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Cadence Bank during the 2nd quarter worth about $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Cadence Bank during the 1st quarter valued at about $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Cadence Bank during the 2nd quarter worth about $65,000. CWM LLC raised its stake in shares of Cadence Bank by 49.8% during the first quarter. CWM LLC now owns 5,799 shares of the company’s stock worth $176,000 after buying an additional 1,928 shares during the last quarter. Finally, Americana Partners LLC acquired a new stake in shares of Cadence Bank in the 2nd quarter valued at approximately $201,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CADE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods downgraded shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and lifted their price objective for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Zacks Research lowered shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. DA Davidson upped their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Barclays cut shares of Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada upgraded shares of Cadence Bank from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Cadence Bank has an average rating of “Hold” and an average target price of $42.33.

Cadence Bank Trading Up 0.7%

Shares of Cadence Bank stock opened at $37.52 on Wednesday. The business has a 50-day moving average price of $37.62 and a 200-day moving average price of $34.97. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.23. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 13.59 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Monday, October 20th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. The firm had revenue of $517.24 million for the quarter, compared to analysts’ expectations of $523.60 million. During the same period in the prior year, the business posted $0.73 earnings per share. Equities research analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a $0.275 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. Cadence Bank’s payout ratio is currently 39.86%.

Cadence Bank Company Profile

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.