Cerity Partners LLC Buys 15,312 Shares of Cadence Bank (NYSE:CADE)

Cerity Partners LLC increased its holdings in Cadence Bank (NYSE:CADE - Free Report) by 31.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,377 shares of the company's stock after acquiring an additional 15,312 shares during the period. Cerity Partners LLC's holdings in Cadence Bank were worth $2,050,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake 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 worth $277,874,000 after purchasing an additional 593,878 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings 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 in the last quarter. Segall Bryant & Hamill LLC raised its position in Cadence Bank by 21.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company's stock valued at $42,396,000 after buying an additional 237,748 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Cadence Bank during the 3rd quarter valued at $5,511,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cadence Bank by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company's stock worth $71,423,000 after acquiring an additional 105,231 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Performance

CADE traded down $0.10 during trading hours on Monday, hitting $38.09. The stock had a trading volume of 1,265,377 shares, compared to its average volume of 1,322,350. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The company's fifty day simple moving average is $34.49 and its 200 day simple moving average is $31.52. The stock has a market cap of $6.94 billion, a PE ratio of 10.99 and a beta of 0.95. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

Cadence Bank (NYSE:CADE - Get Free Report) last posted 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. The firm had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. Equities analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.63%. Cadence Bank's dividend payout ratio is currently 28.74%.

Analysts Set New Price Targets

Several analysts have recently commented on CADE shares. Morgan Stanley upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $36.00 to $39.00 in a report on Monday, September 30th. Truist Financial lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. DA Davidson increased their price target on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted 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. Five investment 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.29.

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.