Lavaca Capital LLC Takes $207,000 Position in Cadence Bank (NYSE:CADE)

Lavaca Capital LLC acquired a new position in Cadence Bank (NYSE:CADE) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,154 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Cadence Bank by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock worth $273,421,000 after buying an additional 376,989 shares during the last quarter. Halter Ferguson Financial Inc. bought a new stake in shares of Cadence Bank during the 4th quarter valued at about $3,023,000. Vanguard Group Inc. increased its position in shares of Cadence Bank by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock valued at $587,867,000 after purchasing an additional 940,895 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Cadence Bank by 49.4% during the 4th quarter. New York State Common Retirement Fund now owns 112,255 shares of the company’s stock valued at $3,322,000 after purchasing an additional 37,129 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Cadence Bank by 32.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 68,892 shares of the company’s stock worth $1,998,000 after purchasing an additional 16,850 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CADE shares. Truist Financial raised their target price on Cadence Bank from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. DA Davidson boosted their price objective on Cadence Bank from $34.50 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays raised their target price on shares of Cadence Bank from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group decreased their price objective on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $33.79.

Cadence Bank Trading Down 1.8 %

Cadence Bank stock traded down $0.60 during midday trading on Monday, reaching $32.91. The stock had a trading volume of 1,817,065 shares, compared to its average volume of 1,362,062. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 10.51 and a beta of 0.98. Cadence Bank has a 52-week low of $19.67 and a 52-week high of $34.13. The company has a fifty day moving average of $29.04 and a 200 day moving average of $28.32.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, July 22nd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The business had revenue of $742.87 million for the quarter, compared to analyst estimates of $439.63 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. During the same quarter last year, the firm posted $0.64 earnings per share. On average, analysts anticipate that Cadence Bank will post 2.54 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 3.04%. Cadence Bank’s payout ratio is currently 31.95%.

Cadence Bank 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.