Pacer Advisors Inc. Takes Position in Cadence Bank $CADE

Pacer Advisors Inc. bought a new position in Cadence Bank (NYSE:CADE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,610 shares of the company’s stock, valued at approximately $1,262,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Welch Group LLC purchased a new position in Cadence Bank during the third quarter worth approximately $202,000. Texas Permanent School Fund Corp raised its position in shares of Cadence Bank by 11.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 121,799 shares of the company’s stock worth $3,895,000 after buying an additional 12,935 shares during the period. Osaic Holdings Inc. raised its position in shares of Cadence Bank by 24.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock worth $46,000 after buying an additional 283 shares during the period. American Trust acquired a new position in Cadence Bank in the second quarter valued at $328,000. Finally, Neuberger Berman Group LLC grew its position in Cadence Bank by 47.8% during the second quarter. Neuberger Berman Group LLC now owns 19,711 shares of the company’s stock valued at $630,000 after acquiring an additional 6,374 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Down 0.7%

CADE opened at $42.83 on Friday. The firm has a market capitalization of $7.80 billion, a P/E ratio of 15.52 and a beta of 0.94. The firm’s 50 day moving average is $40.43 and its 200-day moving average is $37.37. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $44.26.

Cadence Bank (NYSE:CADE) last announced its earnings results on Monday, October 20th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. The business had revenue of $517.24 million during the quarter, compared to the consensus estimate of $523.60 million. During the same period in the prior year, the firm earned $0.73 earnings per share. Equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, December 15th. Cadence Bank’s payout ratio is presently 39.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research downgraded Cadence Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Morgan Stanley cut shares of Cadence Bank from an “overweight” rating to a “sell” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada raised shares of Cadence Bank from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 27th. Finally, Barclays lowered shares of Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.33.

Cadence Bank Company Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.