Cadence Bank $CADE Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lifted its position in Cadence Bank (NYSE:CADE) by 64.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,682 shares of the company’s stock after acquiring an additional 13,589 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cadence Bank were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position 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 buying an additional 980,369 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Cadence Bank by 0.6% during the first 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 in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Cadence Bank by 5.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,619,544 shares of the company’s stock worth $109,889,000 after buying an additional 193,582 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in 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 valued at $92,640,000 after purchasing an additional 480,622 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Cadence Bank by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock valued at $85,953,000 after purchasing an additional 244,146 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

CADE has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Cadence Bank from $34.00 to $37.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Piper Sandler lifted their target price on Cadence Bank from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Wall Street Zen downgraded Cadence Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Zacks Research downgraded Cadence Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a research report on Saturday, September 27th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.90.

Cadence Bank Trading Up 0.8%

Shares of NYSE CADE opened at $39.04 on Wednesday. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20. 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 stock has a fifty day simple moving average of $36.68 and a 200-day simple moving average of $33.03. The stock has a market capitalization of $7.11 billion, a PE ratio of 13.89 and a beta of 0.88.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.The business had revenue of $476.32 million during the quarter, compared to analysts’ expectations of $467.60 million. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, equities analysts forecast 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 was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Cadence Bank’s payout ratio is presently 39.15%.

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.