Barclays PLC Acquires 171,940 Shares of Cadence Bank (NYSE:CADE)

Barclays PLC raised its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 63.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 441,669 shares of the company's stock after buying an additional 171,940 shares during the period. Barclays PLC owned about 0.24% of Cadence Bank worth $14,067,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank in the 3rd quarter worth approximately $25,000. Point72 Hong Kong Ltd bought a new stake in Cadence Bank in the third quarter valued at $32,000. GAMMA Investing LLC increased its position in Cadence Bank by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company's stock valued at $50,000 after purchasing an additional 559 shares during the period. Innealta Capital LLC purchased a new position in Cadence Bank during the 2nd quarter valued at $138,000. Finally, KBC Group NV lifted its position in shares of Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company's stock worth $160,000 after purchasing an additional 519 shares during the period. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Up 0.7 %

NYSE CADE traded up $0.24 during mid-day trading on Monday, reaching $36.64. The stock had a trading volume of 886,879 shares, compared to its average volume of 1,301,781. The stock has a market cap of $6.68 billion, a PE ratio of 10.53 and a beta of 0.98. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day moving average price of $35.80 and a 200 day moving average price of $32.19.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.09. The business had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. On average, research analysts expect that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's dividend payout ratio (DPR) is 28.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Truist Financial boosted 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. Barclays upped their target price on Cadence Bank from $37.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Royal Bank of Canada raised their target price on Cadence Bank from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.63.

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.