Segall Bryant & Hamill LLC Has $43.59 Million Holdings in Cadence Bank $CADE

Segall Bryant & Hamill LLC cut its position in shares of Cadence Bank (NYSE:CADE) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,362,889 shares of the company’s stock after selling 7,342 shares during the period. Segall Bryant & Hamill LLC’s holdings in Cadence Bank were worth $43,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CADE. Victory Capital Management Inc. grew its position in Cadence Bank by 107.2% in the first quarter. Victory Capital Management Inc. now owns 104,514 shares of the company’s stock valued at $3,173,000 after acquiring an additional 54,061 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Cadence Bank by 25.5% during the first quarter. Voya Investment Management LLC now owns 205,461 shares of the company’s stock valued at $6,238,000 after acquiring an additional 41,764 shares during the period. Strs Ohio acquired a new stake in shares of Cadence Bank in the 1st quarter valued at $580,000. Nordea Investment Management AB grew its holdings in shares of Cadence Bank by 1.6% in the 2nd quarter. Nordea Investment Management AB now owns 101,585 shares of the company’s stock worth $3,266,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Cadence Bank by 12.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,976 shares of the company’s stock worth $735,000 after purchasing an additional 2,500 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Trading Up 4.1%

Shares of NYSE CADE opened at $38.97 on Friday. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.23. The company has a 50-day moving average of $37.65 and a two-hundred day moving average of $35.07. The company has a market cap of $7.10 billion, a PE ratio of 14.12 and a beta of 0.95. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 20th. The company reported $0.81 earnings per share 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 10.08%. The business had revenue of $517.24 million during the quarter, compared to analyst estimates of $523.60 million. During the same quarter last year, the business posted $0.73 earnings per share. As a group, equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 15th. Cadence Bank’s dividend payout ratio is 39.86%.

Analysts Set New Price Targets

CADE has been the subject of several analyst reports. Royal Bank Of Canada raised shares of Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Hovde Group lifted their target price on shares of Cadence Bank from $34.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, July 28th. Morgan Stanley lowered Cadence Bank from an “overweight” rating to a “sell” rating in a research report on Tuesday, October 28th. Finally, Barclays cut Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Cadence Bank currently has a consensus rating of “Hold” and a consensus target price of $42.33.

Cadence Bank 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.