Mutual of America Capital Management LLC Has $3.34 Million Stake in Cadence Bank (NYSE:CADE)

Mutual of America Capital Management LLC decreased its position in shares of Cadence Bank (NYSE:CADE) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,901 shares of the company’s stock after selling 5,836 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Cadence Bank worth $3,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in Cadence Bank during the 3rd quarter worth $25,000. State of Wyoming acquired a new position in Cadence Bank during the 4th quarter worth $25,000. Fifth Third Bancorp lifted its position in Cadence Bank by 165.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock worth $31,000 after acquiring an additional 905 shares during the last quarter. Sunbelt Securities Inc. lifted its position in Cadence Bank by 102.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,800 shares of the company’s stock worth $35,000 after acquiring an additional 913 shares during the last quarter. Finally, Ronald Blue Trust Inc. increased its holdings in shares of Cadence Bank by 166.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 3,674 shares of the company’s stock worth $72,000 after purchasing an additional 2,296 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

CADE has been the topic of several research reports. TheStreet downgraded shares of Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th. Hovde Group downgraded shares of Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price objective on the stock. in a report on Tuesday, January 30th. Morgan Stanley boosted their price objective on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Citigroup boosted their price objective on shares of Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Finally, Truist Financial boosted their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and an average target price of $30.65.

Cadence Bank Price Performance

Shares of CADE stock opened at $26.61 on Thursday. Cadence Bank has a 1 year low of $16.95 and a 1 year high of $31.45. The firm’s 50 day moving average is $27.54 and its 200-day moving average is $26.28. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 9.14 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank (NYSE:CADE) last announced its earnings results on Monday, January 29th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The company had revenue of $23.15 million for the quarter, compared to analyst estimates of $433.99 million. Sell-side analysts forecast that Cadence Bank will post 2.38 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, March 14th. Cadence Bank’s dividend payout ratio is presently 34.36%.

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.