TD Private Client Wealth LLC Has $158,000 Stock Holdings in Cadence Bank (NYSE:CADE)

TD Private Client Wealth LLC raised its stake in Cadence Bank (NYSE:CADE) by 23.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,954 shares of the company’s stock after buying an additional 926 shares during the quarter. TD Private Client Wealth LLC’s holdings in Cadence Bank were worth $158,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Cadence Bank by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock worth $277,874,000 after buying an additional 593,878 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Cadence Bank in the third quarter worth approximately $11,727,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Cadence Bank by 16.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after purchasing an additional 291,885 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Cadence Bank by 21.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after purchasing an additional 237,748 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Cadence Bank by 1.2% in the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after purchasing an additional 195,773 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CADE has been the topic of several analyst reports. DA Davidson increased their target price 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. Barclays raised their price objective on Cadence Bank from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their target price on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their price target 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. Finally, Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Cadence Bank Stock Down 0.8 %

Shares of CADE opened at $36.40 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50-day simple moving average of $35.69 and a 200-day simple moving average of $32.13. Cadence Bank has a 52 week low of $24.99 and a 52 week high of $40.20. The firm has a market capitalization of $6.63 billion, a P/E ratio of 10.46 and a beta of 0.98.

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

Cadence Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.75%. Cadence Bank’s dividend payout ratio (DPR) is currently 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.