Cadence Bank $CADE Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its holdings in shares of Cadence Bank (NYSE:CADE) by 65.8% in the second quarter, HoldingsChannel.com reports. The fund owned 47,238 shares of the company’s stock after selling 91,058 shares during the quarter. Squarepoint Ops LLC’s holdings in Cadence Bank were worth $1,511,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CADE. Sheets Smith Wealth Management increased its stake in shares of Cadence Bank by 2.6% during the 2nd quarter. Sheets Smith Wealth Management now owns 18,040 shares of the company’s stock worth $577,000 after purchasing an additional 464 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Cadence Bank by 47.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,870 shares of the company’s stock valued at $60,000 after buying an additional 600 shares during the last quarter. Blue Trust Inc. increased its position in Cadence Bank by 9.2% during the second quarter. Blue Trust Inc. now owns 7,224 shares of the company’s stock worth $231,000 after buying an additional 609 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in shares of Cadence Bank by 3.1% in the first quarter. Focus Partners Advisor Solutions LLC now owns 20,661 shares of the company’s stock worth $627,000 after acquiring an additional 622 shares during the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Cadence Bank by 1.9% in the second quarter. RFG Advisory LLC now owns 33,567 shares of the company’s stock worth $1,073,000 after acquiring an additional 637 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on CADE. Zacks Research lowered Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Keefe, Bruyette & Woods lowered shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and upped their target price for the company from $41.00 to $49.00 in a report on Monday, November 3rd. Stephens cut shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 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, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.33.

Cadence Bank Trading Up 0.5%

NYSE CADE opened at $43.64 on Friday. The business’s 50-day moving average price is $39.25 and its 200 day moving average price is $36.57. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $44.26. The company has a market capitalization of $7.95 billion, a PE ratio of 15.81 and a beta of 0.97.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data 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 net margin of 18.15% and a return on equity of 9.97%. The company had revenue of $517.24 million during the quarter, compared to the consensus estimate of $523.60 million. During the same quarter in the prior year, the company posted $0.73 EPS. Equities analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a dividend of $0.275 per share. 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 2.5%. Cadence Bank’s dividend payout ratio (DPR) is currently 39.86%.

Cadence Bank Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.