Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 4,015 Shares of Cadence Bank $CADE

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Cadence Bank (NYSE:CADE) by 9.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,886 shares of the company’s stock after purchasing an additional 4,015 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cadence Bank were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Cadence Bank during the second quarter worth about $25,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cadence Bank in the 1st quarter valued at approximately $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Cadence Bank in the 2nd quarter valued at approximately $65,000. CWM LLC boosted its position in Cadence Bank by 49.8% during the 1st quarter. CWM LLC now owns 5,799 shares of the company’s stock worth $176,000 after acquiring an additional 1,928 shares during the last quarter. Finally, Americana Partners LLC bought a new position in shares of Cadence Bank during the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Trading Up 4.1%

Shares of NYSE:CADE opened at $38.97 on Friday. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.23. 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 company has a market capitalization of $7.10 billion, a P/E ratio of 14.12 and a beta of 0.95. The company has a 50-day simple moving average of $37.65 and a 200 day simple moving average of $35.07.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. Cadence Bank had a return on equity of 10.08% and a net margin of 18.15%.The firm had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. During the same quarter in the prior year, the company earned $0.73 earnings per share. Sell-side analysts forecast that Cadence Bank will post 2.94 earnings per share for the current 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 paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, December 15th. Cadence Bank’s dividend payout ratio is 39.86%.

Analyst Ratings Changes

CADE has been the topic of a number of research reports. Morgan Stanley lowered shares of Cadence Bank from an “overweight” rating to a “sell” rating in a research report on Tuesday, October 28th. Barclays cut shares of Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada upgraded Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Stephens downgraded Cadence Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods cut Cadence Bank from a “moderate buy” rating to a “hold” rating and increased their price target for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Bank currently has a consensus rating of “Hold” and a consensus price target of $42.33.

About Cadence Bank

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.