15,454 Shares in Cadence Bank (NYSE:CADE) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in shares of Cadence Bank (NYSE:CADE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,454 shares of the company’s stock, valued at approximately $492,000.

Several other institutional investors and hedge funds have also bought and sold shares of CADE. V Square Quantitative Management LLC bought a new position in shares of Cadence Bank in the third quarter valued at $25,000. GAMMA Investing LLC lifted its position in shares of Cadence Bank by 77.0% during the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after purchasing an additional 436 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Cadence Bank during the second quarter valued at about $138,000. KBC Group NV lifted its position in shares of Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares in the last quarter. Finally, Americana Partners LLC bought a new position in shares of Cadence Bank during the third quarter valued at about $201,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CADE shares. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Truist Financial raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays raised their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, DA Davidson raised their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cadence Bank has an average rating of “Moderate Buy” and a consensus target price of $35.29.

Cadence Bank Price Performance

CADE opened at $38.19 on Friday. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 10.97 and a beta of 0.95. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $34.36 and a 200-day moving average price of $31.43. Cadence Bank has a twelve month low of $24.74 and a twelve month high of $40.20.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. The firm had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. Equities analysts expect that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. Cadence Bank’s payout ratio is 28.74%.

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.