JPMorgan Chase & Co. Has $13.16 Million Stock Holdings in Cadence Bank (NYSE:CADE)

JPMorgan Chase & Co. lowered its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 16.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 413,116 shares of the company's stock after selling 80,734 shares during the period. JPMorgan Chase & Co. owned approximately 0.23% of Cadence Bank worth $13,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CADE. V Square Quantitative Management LLC acquired a new position in Cadence Bank in the third quarter valued at $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cadence Bank in the third quarter valued at approximately $32,000. GAMMA Investing LLC boosted its position in Cadence Bank by 55.8% during the third quarter. GAMMA Investing LLC now owns 1,561 shares of the company's stock worth $50,000 after acquiring an additional 559 shares during the last quarter. TD Private Client Wealth LLC boosted its position in Cadence Bank by 23.0% during the third quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company's stock worth $158,000 after acquiring an additional 926 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company's stock valued at $160,000 after purchasing an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Cadence Bank Trading Down 4.5 %

Shares of CADE stock traded down $1.57 during trading hours on Friday, reaching $33.53. 1,731,061 shares of the stock traded hands, compared to its average volume of 1,296,344. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The business has a fifty day moving average price of $36.39 and a 200 day moving average price of $33.09. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.11 billion, a PE ratio of 9.64 and a beta of 1.00.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating 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 firm had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The firm's revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Friday, December 13th. Cadence Bank's dividend payout ratio is currently 28.74%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CADE shares. Barclays raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. 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 report on Wednesday, October 23rd. DA Davidson lifted their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Morgan Stanley raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, Truist Financial boosted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cadence Bank presently has an average rating of "Moderate Buy" and an average price target of $37.32.

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.