Cadence Bank $CADE Stake Boosted by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC increased its stake in Cadence Bank (NYSE:CADE) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,393 shares of the company’s stock after buying an additional 13,233 shares during the period. Cadence Bank accounts for 2.1% of Moody Aldrich Partners LLC’s portfolio, making the stock its largest position. Moody Aldrich Partners LLC owned approximately 0.16% of Cadence Bank worth $10,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Cadence Bank by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,664,361 shares of the company’s stock valued at $149,182,000 after purchasing an additional 113,593 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Cadence Bank by 19.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company’s stock worth $92,640,000 after purchasing an additional 480,622 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Cadence Bank by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock valued at $85,953,000 after buying an additional 244,146 shares during the period. First Trust Advisors LP boosted its holdings in shares of Cadence Bank by 11.5% during the 2nd quarter. First Trust Advisors LP now owns 2,587,221 shares of the company’s stock valued at $82,739,000 after buying an additional 266,621 shares in the last quarter. Finally, Channing Capital Management LLC purchased a new stake in shares of Cadence Bank in the 2nd quarter worth about $75,681,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from $41.00 to $49.00 in a research note on Monday, November 3rd. Stephens cut Cadence Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada upgraded Cadence Bank from a “hold” rating to a “moderate buy” rating in a research note on Monday, October 27th. Zacks Research cut Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Morgan Stanley downgraded Cadence Bank from an “overweight” rating to a “sell” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Cadence Bank currently has a consensus rating of “Hold” and a consensus price target of $42.33.

Cadence Bank Stock Performance

Shares of NYSE:CADE opened at $42.83 on Thursday. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $44.26. The business has a 50-day simple moving average of $40.28 and a two-hundred day simple moving average of $37.33. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 15.52 and a beta of 0.97.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. The firm had revenue of $517.24 million for the quarter, compared to the consensus estimate of $523.60 million. During the same quarter last year, the firm posted $0.73 EPS. As a group, research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a yield of 2.6%. Cadence Bank’s payout ratio is currently 39.86%.

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.