Point72 Asia Singapore Pte. Ltd. Invests $392,000 in Cadence Bank (NYSE:CADE)

Point72 Asia Singapore Pte. Ltd. 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 12,314 shares of the company’s stock, valued at approximately $392,000.

A number of other hedge funds also recently bought and sold shares of CADE. Blue Trust Inc. increased its stake in shares of Cadence Bank by 456.6% during the second quarter. Blue Trust Inc. now owns 21,667 shares of the company’s stock valued at $628,000 after buying an additional 17,774 shares during the period. Cerity Partners LLC increased its position in Cadence Bank by 31.2% during the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after purchasing an additional 15,312 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after purchasing an additional 291,885 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Cadence Bank by 8.0% in the 2nd quarter. Natixis Advisors LLC now owns 419,375 shares of the company’s stock worth $11,860,000 after purchasing an additional 30,945 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Cadence Bank by 21.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after purchasing an additional 237,748 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Trading Down 0.3 %

Shares of NYSE CADE opened at $38.09 on Tuesday. The company has a market cap of $6.94 billion, a PE ratio of 10.95 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day moving average price is $34.49 and its 200-day moving average price is $31.52. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating 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%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. On average, equities research analysts expect that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is 28.74%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CADE shares. Barclays raised their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Truist Financial raised their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upped their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, DA Davidson upped their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.29.

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.