Advantage Alpha Capital Partners LP Reduces Stake in Cadence Bank $CADE

Advantage Alpha Capital Partners LP decreased its stake in shares of Cadence Bank (NYSE:CADE) by 60.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,930 shares of the company’s stock after selling 10,759 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Cadence Bank were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S bought a new position in Cadence Bank in the 1st quarter worth about $40,000. Abound Wealth Management increased its stake in Cadence Bank by 223.3% in the 1st quarter. Abound Wealth Management now owns 1,665 shares of the company’s stock worth $51,000 after acquiring an additional 1,150 shares during the last quarter. UMB Bank n.a. increased its stake in Cadence Bank by 169.6% in the 1st quarter. UMB Bank n.a. now owns 1,774 shares of the company’s stock worth $54,000 after acquiring an additional 1,116 shares during the last quarter. State of Wyoming increased its stake in Cadence Bank by 172.4% in the 4th quarter. State of Wyoming now owns 2,359 shares of the company’s stock worth $81,000 after acquiring an additional 1,493 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Cadence Bank by 55.3% in the 1st quarter. GAMMA Investing LLC now owns 2,892 shares of the company’s stock worth $88,000 after acquiring an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of Cadence Bank stock opened at $37.2280 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $6.78 billion, a PE ratio of 13.25 and a beta of 0.89. The business’s 50-day moving average price is $34.17 and its 200-day moving average price is $31.89. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. The firm had revenue of $476.32 million for the quarter, compared to analyst estimates of $467.60 million. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.During the same period in the prior year, the company earned $0.73 EPS. Sell-side analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank declared that its board has initiated a stock repurchase program on Friday, April 25th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, September 15th. Cadence Bank’s dividend payout ratio (DPR) is presently 39.15%.

Wall Street Analysts Forecast Growth

CADE has been the topic of a number of research analyst reports. DA Davidson upped their target price on Cadence Bank from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Hovde Group upped their target price on Cadence Bank from $34.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, July 28th. Piper Sandler upped their target price on Cadence Bank from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Wall Street Zen lowered Cadence Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods upped their target price on Cadence Bank from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

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.