Cadence Bank (NYSE:CADE) Shares Sold by MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lowered its position in shares of Cadence Bank (NYSE:CADEGet Rating) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,305 shares of the company’s stock after selling 52,145 shares during the quarter. Cadence Bank makes up about 1.3% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings, making the stock its 25th largest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned 0.37% of Cadence Bank worth $11,830,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Cadence Bank by 49.7% in the fourth quarter. State Street Corp now owns 9,966,096 shares of the company’s stock worth $298,602,000 after acquiring an additional 3,310,115 shares during the period. Dimensional Fund Advisors LP lifted its stake in Cadence Bank by 34.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,091,420 shares of the company’s stock worth $211,256,000 after purchasing an additional 1,810,881 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Cadence Bank during the fourth quarter worth $173,967,000. Northern Trust Corp raised its stake in shares of Cadence Bank by 112.3% in the fourth quarter. Northern Trust Corp now owns 3,482,824 shares of the company’s stock valued at $103,752,000 after acquiring an additional 1,842,517 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Cadence Bank by 63.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,365 shares of the company’s stock valued at $97,960,000 after acquiring an additional 1,282,098 shares in the last quarter. Institutional investors and hedge funds own 71.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. TheStreet upgraded Cadence Bank from a “c+” rating to a “b-” rating in a research note on Friday, May 27th. Piper Sandler dropped their price objective on Cadence Bank to $33.00 in a report on Monday, July 4th. Truist Financial dropped their price objective on Cadence Bank from $32.00 to $30.00 in a report on Wednesday, June 15th. Jefferies Financial Group lowered their price target on Cadence Bank from $28.00 to $26.00 in a report on Monday, July 11th. Finally, Stephens raised their price target on Cadence Bank to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $31.33.

Cadence Bank Stock Up 1.9 %

CADE stock traded up $0.48 during trading on Friday, reaching $25.98. The stock had a trading volume of 1,195,992 shares, compared to its average volume of 1,091,137. Cadence Bank has a 1-year low of $22.04 and a 1-year high of $34.24. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.82 billion, a P/E ratio of 15.19 and a beta of 1.07. The firm has a fifty day moving average price of $24.62 and a 200 day moving average price of $27.37.

Cadence Bank (NYSE:CADEGet Rating) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Cadence Bank had a net margin of 17.35% and a return on equity of 11.01%. During the same period last year, the company posted $0.86 EPS. On average, equities analysts anticipate that Cadence Bank will post 2.91 earnings per share for the current year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.39%. Cadence Bank’s dividend payout ratio (DPR) is presently 51.46%.

Cadence Bank Company Profile

(Get Rating)

Cadence Bank provides commercial banking and financial services in the United States. 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.

See Also

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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