Dynamic Technology Lab Private Ltd Has $454,000 Stock Position in Cadence Bank $CADE

Dynamic Technology Lab Private Ltd reduced its stake in shares of Cadence Bank (NYSE:CADE) by 59.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,940 shares of the company’s stock after selling 21,724 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Cadence Bank were worth $454,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cadence Bank during the 1st quarter worth approximately $40,000. Abound Wealth Management grew its stake in shares of Cadence Bank by 223.3% during the 1st quarter. Abound Wealth Management now owns 1,665 shares of the company’s stock worth $51,000 after acquiring an additional 1,150 shares in the last quarter. UMB Bank n.a. boosted its holdings in Cadence Bank by 169.6% during the first quarter. UMB Bank n.a. now owns 1,774 shares of the company’s stock worth $54,000 after purchasing an additional 1,116 shares during the last quarter. State of Wyoming boosted its holdings in Cadence Bank by 172.4% during the fourth quarter. State of Wyoming now owns 2,359 shares of the company’s stock worth $81,000 after purchasing an additional 1,493 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cadence Bank by 55.3% during the first quarter. GAMMA Investing LLC now owns 2,892 shares of the company’s stock worth $88,000 after purchasing an additional 1,030 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Price Performance

NYSE:CADE opened at $37.35 on Friday. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.20. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $35.83 and a 200 day simple moving average of $32.17. The stock has a market capitalization of $6.81 billion, a PE ratio of 13.29 and a beta of 0.91.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. Cadence Bank had a net margin of 18.79% and a return on equity of 9.84%. The business had revenue of $476.32 million during the quarter, compared to analysts’ expectations of $467.60 million. During the same period last year, the business earned $0.73 earnings per share. On average, research analysts expect that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Cadence Bank’s payout ratio is 39.15%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Stephens increased their target price on shares of Cadence Bank from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Royal Bank Of Canada increased their target price on shares of Cadence Bank from $34.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Piper Sandler increased their target price on shares of Cadence Bank from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, Wall Street Zen cut shares of Cadence Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Bank presently has a consensus rating of “Moderate Buy” and an average price target of $40.40.

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.