Curi RMB Capital LLC Reduces Stock Holdings in Cadence Bank (NYSE:CADE)

Curi RMB Capital LLC lessened its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,000 shares of the company's stock after selling 50,000 shares during the period. Curi RMB Capital LLC's holdings in Cadence Bank were worth $1,592,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions 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. GAMMA Investing LLC raised its holdings in Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company's stock worth $28,000 after buying an additional 436 shares during the period. Innealta Capital LLC purchased a new stake in Cadence Bank during the second quarter valued at about $138,000. KBC Group NV increased its position in shares of Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company's stock worth $160,000 after acquiring an additional 519 shares in the last quarter. Finally, Americana Partners LLC acquired a new stake in shares of Cadence Bank during the third quarter valued at approximately $201,000. Institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CADE. Hovde Group raised their price target on shares of Cadence Bank from $33.00 to $36.50 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Piper Sandler cut Cadence Bank from an "overweight" rating to a "neutral" rating and raised their price target for the company from $33.00 to $34.00 in a report on Wednesday, July 24th. Royal Bank of Canada lifted 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. Truist Financial increased 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. Finally, Stephens reissued an "overweight" rating and set a $35.00 price objective on shares of Cadence Bank in a research report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.29.

Cadence Bank Price Performance

NYSE CADE traded down $0.32 on Friday, reaching $37.70. 1,541,307 shares of the company's stock traded hands, compared to its average volume of 1,330,628. The stock has a market cap of $6.87 billion, a PE ratio of 10.83 and a beta of 0.95. Cadence Bank has a 12 month low of $24.15 and a 12 month high of $39.79. The stock has a 50-day simple moving average of $33.14 and a 200 day simple moving average of $30.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $450.97 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The business's revenue was up 11.0% compared to the same quarter last year. As a group, research analysts predict that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Announces Dividend

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, December 13th. Cadence Bank's dividend payout ratio (DPR) is currently 28.74%.

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.