Callahan Advisors LLC Makes New $209,000 Investment in Cadence Bank $CADE

Callahan Advisors LLC acquired a new position in shares of Cadence Bank (NYSE:CADEFree Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,540 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Cadence Bank by 7.8% during the first quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company’s stock worth $409,301,000 after purchasing an additional 980,369 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Cadence Bank by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,520,057 shares of the company’s stock worth $167,589,000 after buying an additional 32,362 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Cadence Bank by 5.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,619,544 shares of the company’s stock valued at $109,889,000 after buying an additional 193,582 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Cadence Bank by 19.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company’s stock valued at $92,640,000 after buying an additional 480,622 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Cadence Bank by 9.4% in the 1st 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 last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Cadence Bank from $38.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Zacks Research downgraded Cadence Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Wall Street Zen lowered Cadence Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. DA Davidson increased their price objective on Cadence Bank from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Cadence Bank presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Check Out Our Latest Analysis on Cadence Bank

Cadence Bank Stock Down 1.2%

Shares of Cadence Bank stock opened at $39.01 on Thursday. Cadence Bank has a one year low of $25.22 and a one year high of $40.23. The company has a market cap of $7.11 billion, a P/E ratio of 13.88 and a beta of 0.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average of $37.20 and a two-hundred day moving average of $33.35.

Cadence Bank (NYSE:CADEGet Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. The company had revenue of $476.32 million for the quarter, compared to analysts’ expectations of $467.60 million. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.During the same quarter in the previous year, the firm posted $0.73 EPS. On average, analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, September 15th. Cadence Bank’s dividend payout ratio (DPR) is currently 39.15%.

Cadence Bank Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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