Concurrent Investment Advisors LLC Has $1.25 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Concurrent Investment Advisors LLC trimmed its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 49.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,216 shares of the company's stock after selling 38,278 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Cadence Bank were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CADE. Vanguard Group Inc. grew its holdings in 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 period. Dimensional Fund Advisors LP grew its stake in shares of Cadence Bank by 6.4% in the 2nd 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. Allspring Global Investments Holdings LLC bought a new stake in shares of Cadence Bank in the 3rd quarter worth approximately $5,511,000. Leuthold Group LLC acquired a new stake in Cadence Bank during the third quarter valued at approximately $2,743,000. Finally, Moody Aldrich Partners LLC boosted its holdings in Cadence Bank by 28.6% during the third quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company's stock worth $9,394,000 after buying an additional 65,595 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Stock Up 0.9 %

Shares of Cadence Bank stock traded up $0.32 during trading on Friday, hitting $37.90. 1,638,229 shares of the stock traded hands, compared to its average volume of 1,364,348. The stock has a market cap of $6.91 billion, a P/E ratio of 10.89 and a beta of 0.95. The company has a fifty day moving average price of $32.45 and a two-hundred day moving average price of $30.52. Cadence Bank has a twelve month low of $21.47 and a twelve month high of $38.77. 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 posted its earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. The company 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 for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities research analysts predict that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, December 13th. Cadence Bank's payout ratio is 28.74%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price target on Cadence Bank from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Wednesday, October 23rd. DA Davidson upped 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. Truist Financial increased their price target on Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Hovde Group upped their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price 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. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cadence Bank presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.29.

Cadence Bank 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.