Cadence Bank (NYSE:CADE) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Cadence Bank (NYSE:CADE) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,688 shares of the company’s stock after buying an additional 27,763 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Cadence Bank worth $6,796,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CADE. Fifth Third Bancorp raised its stake in shares of Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after purchasing an additional 905 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of Cadence Bank by 952.0% in the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 952 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Cadence Bank by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after purchasing an additional 524 shares in the last quarter. Hardy Reed LLC acquired a new stake in shares of Cadence Bank in the 3rd quarter valued at about $203,000. Finally, Moody Lynn & Lieberson LLC acquired a new stake in shares of Cadence Bank in the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Price Performance

NYSE CADE opened at $29.21 on Thursday. Cadence Bank has a 52 week low of $17.38 and a 52 week high of $31.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 9.33 and a beta of 1.01. The company has a 50-day moving average price of $27.96 and a two-hundred day moving average price of $27.07.

Cadence Bank (NYSE:CADE) last posted its earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The firm had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. Cadence Bank’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Analysts forecast that Cadence Bank will post 2.48 EPS for the current year.

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, June 14th. Cadence Bank’s dividend payout ratio (DPR) is presently 31.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Cadence Bank from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group lowered their price objective on shares of Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Truist Financial boosted their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, TheStreet downgraded shares of Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.09.

About Cadence Bank

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.