Intech Investment Management LLC Purchases 39,044 Shares of Cadence Bank (NYSE:CADE)

Intech Investment Management LLC grew its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 224.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 56,452 shares of the company's stock after acquiring an additional 39,044 shares during the quarter. Intech Investment Management LLC's holdings in Cadence Bank were worth $1,798,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Blue Trust Inc. raised its position in Cadence Bank by 456.6% during the second quarter. Blue Trust Inc. now owns 21,667 shares of the company's stock valued at $628,000 after purchasing an additional 17,774 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company's stock valued at $66,360,000 after purchasing an additional 291,885 shares during the last quarter. Natixis Advisors LLC grew its position in Cadence Bank by 8.0% during the 2nd quarter. Natixis Advisors LLC now owns 419,375 shares of the company's stock worth $11,860,000 after acquiring an additional 30,945 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Cadence Bank in the third quarter valued at approximately $5,511,000. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Cadence Bank by 21.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company's stock worth $42,396,000 after purchasing an additional 237,748 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Performance

NYSE CADE traded down $0.66 on Tuesday, reaching $38.63. 1,353,756 shares of the stock were exchanged, compared to its average volume of 1,328,025. The firm has a market capitalization of $7.04 billion, a PE ratio of 11.10 and a beta of 0.95. 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 company's 50-day simple moving average is $33.99 and its two-hundred day simple moving average is $31.26. Cadence Bank has a one year low of $24.15 and a one year high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly 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 business had revenue of $447.36 million for the quarter, compared to analysts' expectations of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. Analysts expect that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's dividend payout ratio (DPR) is currently 28.74%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $36.00 to $39.00 in a report on Monday, September 30th. Royal Bank of Canada lifted their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. DA Davidson raised their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Truist Financial upped their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cadence Bank has an average rating of "Moderate Buy" and an average 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.