Leuthold Group LLC Makes New $2.74 Million Investment in Cadence Bank (NYSE:CADE)

Leuthold Group LLC acquired a new position in shares of Cadence Bank (NYSE:CADE - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 86,109 shares of the company's stock, valued at approximately $2,743,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Cadence Bank by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company's stock worth $587,867,000 after buying an additional 940,895 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Cadence Bank by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company's stock valued at $277,874,000 after acquiring an additional 593,878 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Cadence Bank during the third quarter worth about $5,511,000. Moody Aldrich Partners LLC lifted its stake in shares of Cadence Bank by 28.6% in the third quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company's stock worth $9,394,000 after acquiring an additional 65,595 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Cadence Bank during the 3rd quarter valued at approximately $1,364,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CADE shares. Jefferies Financial Group reduced their target price on Cadence Bank from $31.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, July 3rd. Barclays increased their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Morgan Stanley raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Truist Financial upped 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. Finally, Hovde Group lifted their price target on Cadence Bank from $33.00 to $36.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. Five equities 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.29.

Cadence Bank Stock Performance

Shares of Cadence Bank stock traded up $0.02 on Tuesday, reaching $33.85. 851,241 shares of the company were exchanged, compared to its average volume of 1,320,929. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 10.81 and a beta of 0.96. Cadence Bank has a 1-year low of $20.83 and a 1-year high of $34.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. The company's 50-day moving average is $31.95 and its two-hundred day moving average is $30.10.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its earnings results 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. The firm had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. As a group, research analysts expect that Cadence Bank will post 2.57 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's dividend payout ratio (DPR) is 31.95%.

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.