Dynamic Technology Lab Private Ltd Acquires New Position in Cadence Bank (NYSE:CADE)

Dynamic Technology Lab Private Ltd purchased a new stake in Cadence Bank (NYSE:CADE - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 15,454 shares of the company's stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company's stock valued at $28,000 after purchasing an additional 436 shares during the period. KBC Group NV raised its position in Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company's stock valued at $160,000 after purchasing an additional 519 shares during the period. Algert Global LLC raised its position in Cadence Bank by 2.8% in the third quarter. Algert Global LLC now owns 18,920 shares of the company's stock valued at $603,000 after purchasing an additional 522 shares during the period. AlphaMark Advisors LLC increased its position in shares of Cadence Bank by 5.6% during the second quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company's stock worth $307,000 after acquiring an additional 579 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Cadence Bank during the third quarter worth $25,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CADE has been the topic of a number of recent research reports. Barclays upped their price objective on Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. DA Davidson upped their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Morgan Stanley raised 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 research report on Monday, September 30th. Royal Bank of Canada upped their price objective 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. Finally, Truist Financial upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Cadence Bank currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.29.

Cadence Bank Stock Performance

NYSE CADE traded down $0.12 during trading hours on Friday, hitting $38.19. The company had a trading volume of 537,797 shares, compared to its average volume of 1,322,597. Cadence Bank has a 1-year low of $24.74 and a 1-year high of $40.20. The company has a market cap of $6.96 billion, a PE ratio of 10.97 and a beta of 0.95. The business has a 50 day moving average of $34.49 and a 200-day moving average of $31.49. 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 - Get Free Report) last announced its 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. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. Cadence Bank's dividend payout ratio (DPR) is 28.74%.

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.