Emerald Mutual Fund Advisers Trust Purchases 116,491 Shares of Cadence Bank $CADE

Emerald Mutual Fund Advisers Trust grew its holdings in shares of Cadence Bank (NYSE:CADEFree Report) by 125.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 209,194 shares of the company’s stock after buying an additional 116,491 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Cadence Bank were worth $7,853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC lifted its stake in shares of Cadence Bank by 1.0% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 28,279 shares of the company’s stock worth $1,105,000 after acquiring an additional 282 shares during the last quarter. Osaic Holdings Inc. increased its stake in Cadence Bank by 24.4% in the second quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock worth $46,000 after purchasing an additional 283 shares during the period. KLP Kapitalforvaltning AS lifted its position in shares of Cadence Bank by 0.8% during the third quarter. KLP Kapitalforvaltning AS now owns 38,128 shares of the company’s stock worth $1,440,000 after purchasing an additional 300 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in shares of Cadence Bank by 2.1% during the third quarter. Sheets Smith Wealth Management now owns 18,418 shares of the company’s stock valued at $691,000 after purchasing an additional 378 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Cadence Bank by 47.2% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,870 shares of the company’s stock valued at $60,000 after purchasing an additional 600 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Cadence Bank

Here are the key news stories impacting Cadence Bank this week:

Cadence Bank Stock Performance

Shares of CADE opened at $43.72 on Friday. The company has a 50 day moving average price of $42.43 and a 200-day moving average price of $38.69. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $46.74. The stock has a market capitalization of $7.97 billion, a PE ratio of 15.84 and a beta of 0.95.

Cadence Bank (NYSE:CADEGet Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. The company had revenue of $528.41 million for the quarter, compared to analyst estimates of $525.15 million. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. During the same period last year, the company posted $0.70 earnings per share. Equities research analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, January 30th will be given a $0.3438 dividend. This represents a $1.38 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.28. Cadence Bank’s dividend payout ratio is presently 39.86%.

Wall Street Analysts Forecast Growth

CADE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods downgraded shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and raised their price target for the stock from $41.00 to $49.00 in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a research report on Wednesday, October 8th. Stephens downgraded shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 28th. Barclays lowered Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Piper Sandler set a $40.00 price objective on Cadence Bank and gave the stock a “neutral” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.33.

View Our Latest Stock Analysis on CADE

Cadence Bank Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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