Capstone Wealth Management LLC Invests $669,000 in Cadence Bank (NYSE:CADE)

Capstone Wealth Management LLC acquired a new stake in shares of Cadence Bank (NYSE:CADE) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 19,410 shares of the company’s stock, valued at approximately $669,000. Cadence Bank comprises approximately 0.7% of Capstone Wealth Management LLC’s investment portfolio, making the stock its 20th biggest position.

Several other large investors have also recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of Cadence Bank by 1.2% during the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock worth $523,074,000 after purchasing an additional 195,773 shares during the period. State Street Corp raised its holdings in Cadence Bank by 1.9% in the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company’s stock worth $284,759,000 after purchasing an additional 165,282 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after purchasing an additional 39,679 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Cadence Bank by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock valued at $71,423,000 after buying an additional 105,231 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after buying an additional 291,885 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CADE. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada increased their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, DA Davidson raised their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cadence Bank has an average rating of “Moderate Buy” and an average price target of $37.32.

Cadence Bank Trading Up 0.8 %

Shares of CADE stock opened at $35.95 on Wednesday. The stock has a fifty day simple moving average of $36.16 and a two-hundred day simple moving average of $33.44. 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 $6.55 billion, a PE ratio of 10.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

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

Cadence Bank 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.