Cadence Bank Makes New $232,000 Investment in Exelon Co. (NASDAQ:EXC)

Cadence Bank purchased a new stake in shares of Exelon Co. (NASDAQ:EXC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,731 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds have also modified their holdings of EXC. Versant Capital Management Inc lifted its stake in Exelon by 646.2% in the second quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after acquiring an additional 672 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Exelon in the 2nd quarter valued at $28,000. American National Bank & Trust boosted its holdings in Exelon by 178.8% in the third quarter. American National Bank & Trust now owns 697 shares of the company’s stock worth $28,000 after purchasing an additional 447 shares in the last quarter. Abound Wealth Management increased its position in Exelon by 502.7% during the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock worth $31,000 after buying an additional 744 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Exelon during the third quarter valued at about $32,000. 80.92% of the stock is owned by institutional investors and hedge funds.

Exelon Trading Up 0.1 %

Exelon stock opened at $39.51 on Friday. Exelon Co. has a 12 month low of $33.35 and a 12 month high of $41.42. The stock has a market cap of $39.70 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The business has a 50 day moving average price of $39.60 and a two-hundred day moving average price of $37.88. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. Exelon’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. As a group, equities analysts forecast that Exelon Co. will post 2.45 EPS for the current year.

Exelon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Friday, November 8th. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank increased their price target on Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. UBS Group boosted their price objective on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Barclays raised their target price on shares of Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group initiated coverage on shares of Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.25.

Exelon Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.