Cadence Bank (NYSE:CADE) Shares Sold by United Services Automobile Association

United Services Automobile Association decreased its holdings in Cadence Bank (NYSE:CADE) by 15.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,524 shares of the company’s stock after selling 2,212 shares during the period. United Services Automobile Association’s holdings in Cadence Bank were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Cadence Bank during the 3rd quarter worth $25,000. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 436 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Cadence Bank during the third quarter worth about $32,000. Innealta Capital LLC purchased a new stake in shares of Cadence Bank during the second quarter worth approximately $138,000. Finally, KBC Group NV raised its holdings in Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CADE shares. Truist Financial increased their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson increased their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $36.00 to $39.00 in a report on Monday, September 30th. Finally, Barclays boosted their target price on Cadence Bank from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.63.

Cadence Bank Stock Performance

Shares of CADE opened at $37.09 on Tuesday. The company’s 50 day simple moving average is $35.21 and its 200-day simple moving average is $31.89. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20. The firm has a market cap of $6.76 billion, a PE ratio of 10.66 and a beta of 0.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same period in the previous year, the business posted $0.56 earnings per share. Cadence Bank’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.70%. Cadence Bank’s payout ratio is 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.