Citigroup Inc. Has $9.44 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Citigroup Inc. boosted its holdings in shares of Cadence Bank (NYSE:CADE) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296,511 shares of the company’s stock after purchasing an additional 37,586 shares during the quarter. Citigroup Inc.’s holdings in Cadence Bank were worth $9,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank in the third quarter valued at approximately $25,000. GAMMA Investing LLC boosted its holdings in Cadence Bank by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after purchasing an additional 436 shares during the period. Innealta Capital LLC acquired a new stake in Cadence Bank in the 2nd quarter worth $138,000. KBC Group NV increased its holdings in shares of Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares during the period. Finally, Americana Partners LLC acquired a new position in shares of Cadence Bank during the third quarter valued at about $201,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their target price on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. DA Davidson raised their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial boosted 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, 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. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and a consensus target price of $35.29.

Cadence Bank Trading Down 0.3 %

Shares of CADE stock opened at $38.19 on Friday. 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 company has a market capitalization of $6.96 billion, a P/E ratio of 10.97 and a beta of 0.95. Cadence Bank has a 12-month low of $24.74 and a 12-month high of $40.20. The firm has a 50-day moving average price of $34.36 and a 200 day moving average price of $31.43.

Cadence Bank (NYSE:CADE) last announced its 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 the consensus estimate of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. Cadence Bank’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. Research analysts forecast that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently announced 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 2.62%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s payout ratio is presently 28.74%.

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.