Moody National Bank Trust Division Grows Holdings in Cadence Bank (NYSE:CADE)

Moody National Bank Trust Division grew its stake in shares of Cadence Bank (NYSE:CADE) by 6.3% in the fourth quarter, Holdings Channel reports. The firm owned 35,866 shares of the company’s stock after acquiring an additional 2,141 shares during the period. Moody National Bank Trust Division’s holdings in Cadence Bank were worth $1,236,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in Cadence Bank in the 3rd quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Cadence Bank in the third quarter valued at approximately $32,000. GAMMA Investing LLC grew its stake in Cadence Bank by 55.8% in the third quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock worth $50,000 after purchasing an additional 559 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Cadence Bank by 23.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock worth $158,000 after purchasing an additional 926 shares during the period. Finally, KBC Group NV raised its position in Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CADE. Keefe, Bruyette & Woods increased their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial raised their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson upped their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.32.

Cadence Bank Trading Up 1.1 %

Shares of NYSE:CADE opened at $33.88 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $6.17 billion, a P/E ratio of 9.74 and a beta of 1.00. The business’s 50-day moving average is $36.41 and its 200 day moving average is $33.13. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.64 by $0.09. The firm had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. Cadence Bank’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. On average, research analysts predict that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

Cadence Bank Company Profile

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.