Segall Bryant & Hamill LLC Buys 237,748 Shares of Cadence Bank (NYSE:CADE)

Segall Bryant & Hamill LLC raised its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 21.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,331,112 shares of the company's stock after purchasing an additional 237,748 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.73% of Cadence Bank worth $42,396,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cadence Bank by 4.9% during the first quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company's stock worth $587,867,000 after acquiring an additional 940,895 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cadence Bank by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company's stock valued at $277,874,000 after buying an additional 593,878 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Cadence Bank by 16.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company's stock worth $66,360,000 after buying an additional 291,885 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Cadence Bank during the third quarter worth approximately $5,511,000. Finally, Leuthold Group LLC purchased a new position in shares of Cadence Bank in the 3rd quarter valued at $2,743,000. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Down 0.7 %

Shares of CADE traded down $0.27 during midday trading on Wednesday, reaching $37.05. 228,815 shares of the company were exchanged, compared to its average volume of 1,326,268. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 1-year low of $24.15 and a 1-year high of $39.79. The stock has a 50-day moving average price of $33.42 and a 200-day moving average price of $31.01. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 10.72 and a beta of 0.95.

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

Cadence Bank Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's payout ratio is presently 28.74%.

Wall Street Analysts Forecast Growth

CADE has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. DA Davidson lifted their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Stephens reaffirmed an "overweight" rating and set a $35.00 target price on shares of Cadence Bank in a research report on Tuesday, July 23rd. Barclays raised their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Finally, Hovde Group upped their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cadence Bank has a consensus rating of "Moderate Buy" and an average target price of $35.29.

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.