Natixis Advisors LLC Has $15.48 Million Holdings in Cadence Bank (NYSE:CADE)

Natixis Advisors LLC grew its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 15.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 486,122 shares of the company's stock after purchasing an additional 66,747 shares during the period. Natixis Advisors LLC owned about 0.27% of Cadence Bank worth $15,483,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Cadence Bank during the 3rd quarter valued at $25,000. GAMMA Investing LLC increased its holdings in Cadence Bank by 77.0% during the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company's stock valued at $28,000 after buying an additional 436 shares during the period. Innealta Capital LLC acquired a new stake in Cadence Bank in the second quarter valued at approximately $138,000. KBC Group NV lifted its stake in shares of Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company's stock worth $160,000 after buying an additional 519 shares during the period. Finally, Americana Partners LLC purchased a new position in Cadence Bank in the third quarter valued at $201,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Cadence Bank Price Performance

CADE traded down $0.30 during midday trading on Wednesday, reaching $37.02. 337,041 shares of the company's stock were exchanged, compared to its average volume of 1,326,637. Cadence Bank has a one year low of $24.15 and a one year high of $39.79. The business has a 50-day simple moving average of $33.42 and a two-hundred day simple moving average of $31.01. 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 $6.75 billion, a price-to-earnings ratio of 10.72 and a beta of 0.95.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $450.97 million. During the same quarter in the previous year, the company posted $0.56 EPS. Cadence Bank's revenue was up 11.0% on a year-over-year basis. As a group, research analysts predict that Cadence Bank will post 2.71 EPS for the current 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 given a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.70%. Cadence Bank's dividend payout ratio is currently 28.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CADE. Royal Bank of Canada upped their price objective 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. Hovde Group lifted their target price on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Piper Sandler downgraded shares of Cadence Bank from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $33.00 to $34.00 in a research note on Wednesday, July 24th. Truist Financial lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, DA Davidson increased their price target on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Five investment 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 stock. According to data from MarketBeat, Cadence Bank presently has a consensus rating of "Moderate Buy" and an average price target of $35.29.

About Cadence Bank

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.