Emerald Advisers LLC Purchases Shares of 156,375 Cadence Bank $CADE

Emerald Advisers LLC purchased a new stake in Cadence Bank (NYSE:CADE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 156,375 shares of the company’s stock, valued at approximately $5,001,000. Emerald Advisers LLC owned 0.09% of Cadence Bank as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CADE. Wellington Management Group LLP boosted its holdings in shares of Cadence Bank by 7.8% in the first quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company’s stock valued at $409,301,000 after buying an additional 980,369 shares during the period. AQR Capital Management LLC lifted its position in shares of Cadence Bank by 1,802.4% in the first quarter. AQR Capital Management LLC now owns 764,776 shares of the company’s stock worth $22,790,000 after purchasing an additional 724,576 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cadence Bank in the first quarter worth $20,090,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Cadence Bank by 19.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company’s stock worth $92,640,000 after purchasing an additional 480,622 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cadence Bank by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock worth $85,953,000 after purchasing an additional 244,146 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CADE shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of Cadence Bank from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Piper Sandler set a $40.00 price objective on shares of Cadence Bank and gave the company a “neutral” rating in a research report on Monday. Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday. Finally, Barclays lowered shares of Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.44.

Cadence Bank Trading Down 2.5%

CADE stock opened at $36.96 on Thursday. The company has a market capitalization of $6.73 billion, a PE ratio of 13.39 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. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.23. The company’s 50-day simple moving average is $37.47 and its 200 day simple moving average is $34.02.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $517.24 million for the quarter, compared to the consensus estimate of $523.60 million. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. During the same period in the prior year, the company posted $0.73 earnings per share. As a group, sell-side analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.0%. Cadence Bank’s dividend payout ratio is 39.86%.

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.