Jane Street Group LLC Has $7.60 Million Stock Position in Cadence Bank (NYSE:CADE)

Jane Street Group LLC reduced its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 238,511 shares of the company's stock after selling 33,201 shares during the quarter. Jane Street Group LLC owned about 0.13% of Cadence Bank worth $7,597,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in Cadence Bank by 1.9% in the third quarter. State Street Corp now owns 8,872,085 shares of the company's stock worth $284,759,000 after purchasing an additional 165,282 shares during the period. Stifel Financial Corp lifted its holdings in shares of Cadence Bank by 18.1% in the third quarter. Stifel Financial Corp now owns 21,034 shares of the company's stock valued at $670,000 after buying an additional 3,218 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Cadence Bank in the third quarter valued at $302,000. Point72 DIFC Ltd bought a new position in Cadence Bank during the third quarter valued at about $304,000. Finally, Point72 Asset Management L.P. acquired a new position in Cadence Bank during the third quarter worth about $11,727,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Stock Down 0.1 %

NYSE CADE traded down $0.04 during trading on Friday, reaching $36.40. 787,620 shares of the company's stock were exchanged, compared to its average volume of 1,303,502. 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 fifty-two week low of $24.99 and a fifty-two week high of $40.20. The company's fifty day simple moving average is $35.69 and its 200-day simple moving average is $32.07. The firm has a market capitalization of $6.63 billion, a PE ratio of 10.46 and a beta of 0.98.

Cadence Bank (NYSE:CADE - Get Free Report) last posted 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 during 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 firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Sell-side analysts predict that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, December 13th. Cadence Bank's dividend payout ratio is currently 28.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Cadence Bank from $37.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Truist Financial raised 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. Keefe, Bruyette & Woods upped their price target on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Royal Bank of Canada raised their price objective on Cadence Bank from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Five 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $36.63.

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.