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Janus Henderson Group PLC Sells 252,293 Shares of Cadence Bank (NYSE:CADE)

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Janus Henderson Group PLC reduced its stake in Cadence Bank (NYSE:CADE - Free Report) by 34.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 482,140 shares of the company's stock after selling 252,293 shares during the quarter. Janus Henderson Group PLC owned 0.26% of Cadence Bank worth $15,355,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company's stock valued at $28,000 after buying an additional 436 shares during the last quarter. KBC Group NV lifted its holdings in Cadence Bank by 11.5% during 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 last quarter. Algert Global LLC boosted its position in Cadence Bank by 2.8% during the third quarter. Algert Global LLC now owns 18,920 shares of the company's stock worth $603,000 after purchasing an additional 522 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Cadence Bank by 5.6% in the second quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company's stock worth $307,000 after purchasing an additional 579 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Cadence Bank by 1.4% in the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company's stock worth $1,406,000 after purchasing an additional 599 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

CADE has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Morgan Stanley raised Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Barclays boosted their price objective on Cadence Bank from $37.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday. Truist Financial increased their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, DA Davidson lifted their target price on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $36.63.

Read Our Latest Analysis on CADE

Cadence Bank Price Performance

Shares of CADE traded up $0.18 during trading hours on Friday, reaching $37.62. 834,756 shares of the company's stock traded hands, compared to its average volume of 1,169,925. Cadence Bank has a 12 month low of $24.99 and a 12 month 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 0.04. The stock has a market cap of $6.86 billion, a PE ratio of 10.81 and a beta of 0.98. The firm's 50 day simple moving average is $35.10 and its 200-day simple moving average is $31.82.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $450.97 million. During the same period in the previous year, the business posted $0.56 earnings per share. Cadence Bank's revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts expect that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's payout ratio is currently 28.74%.

Cadence Bank Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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