Savant Capital LLC Acquires New Shares in Cadence Bank $CADE

Savant Capital LLC bought a new position in Cadence Bank (NYSE:CADE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 23,817 shares of the company’s stock, valued at approximately $762,000.

Several other hedge funds have also recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new stake in shares of Cadence Bank during the second quarter valued at $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Cadence Bank during the 1st quarter valued at about $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Cadence Bank during the 2nd quarter valued at about $65,000. CWM LLC boosted its holdings in shares of Cadence Bank by 49.8% during the 1st quarter. CWM LLC now owns 5,799 shares of the company’s stock valued at $176,000 after acquiring an additional 1,928 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Cadence Bank in the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Trading Down 0.0%

Shares of Cadence Bank stock opened at $38.36 on Friday. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.23. The company’s fifty day simple moving average is $37.62 and its 200-day simple moving average is $34.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $6.99 billion, a PE ratio of 13.90 and a beta of 0.95.

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

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. Cadence Bank’s dividend payout ratio (DPR) is 39.86%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CADE. Piper Sandler set a $40.00 target price on shares of Cadence Bank and gave the stock a “neutral” rating in a report on Monday, October 27th. DA Davidson increased their price target on Cadence Bank from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 28th. Zacks Research downgraded Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Finally, Stephens cut Cadence Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cadence Bank currently has an average 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.