Boston Partners Decreases Stock Holdings in Cadence Bank $CADE

Boston Partners lowered its stake in shares of Cadence Bank (NYSE:CADE) by 1.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 696,966 shares of the company’s stock after selling 12,560 shares during the period. Boston Partners’ holdings in Cadence Bank were worth $22,570,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Cadence Bank by 107.2% in the first quarter. Victory Capital Management Inc. now owns 104,514 shares of the company’s stock worth $3,173,000 after purchasing an additional 54,061 shares during the last quarter. Voya Investment Management LLC raised its stake in Cadence Bank by 25.5% during the 1st quarter. Voya Investment Management LLC now owns 205,461 shares of the company’s stock valued at $6,238,000 after buying an additional 41,764 shares during the last quarter. Strs Ohio bought a new position in shares of Cadence Bank during the 1st quarter valued at $580,000. Nordea Investment Management AB boosted its stake in shares of Cadence Bank by 1.6% in the 2nd quarter. Nordea Investment Management AB now owns 101,585 shares of the company’s stock worth $3,266,000 after buying an additional 1,560 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Cadence Bank by 12.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,976 shares of the company’s stock worth $735,000 after acquiring an additional 2,500 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Down 1.3%

CADE opened at $38.36 on Friday. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 13.90 and a beta of 0.95. 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’s fifty day moving average is $37.61 and its 200 day moving average is $34.73. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.23.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Monday, October 20th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Cadence Bank had a return on equity of 10.08% and a net margin of 18.15%.The business had revenue of $517.24 million for the quarter, compared to analysts’ expectations of $523.60 million. During the same period last year, the firm earned $0.73 earnings per share. On average, sell-side analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors 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 yield of 2.9%. Cadence Bank’s payout ratio is currently 39.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank Of Canada upgraded Cadence Bank from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 27th. Keefe, Bruyette & Woods lowered shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and upped their price target for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. DA Davidson increased their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Piper Sandler set a $40.00 target price on shares of Cadence Bank and gave the company a “neutral” rating in a research report on Monday, October 27th. Finally, Zacks Research lowered shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.33.

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.