Earnest Partners LLC Has $70.63 Million Holdings in Cadence Bancorp (NYSE:CADE)

Earnest Partners LLC increased its stake in Cadence Bancorp (NYSE:CADE) by 1.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,395,699 shares of the company’s stock after purchasing an additional 48,385 shares during the quarter. Earnest Partners LLC’s holdings in Cadence Bancorp were worth $70,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings in shares of Cadence Bancorp by 36.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,882 shares of the company’s stock valued at $35,000 after buying an additional 505 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Cadence Bancorp during the 1st quarter valued at $75,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cadence Bancorp by 40.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,134 shares of the company’s stock valued at $132,000 after purchasing an additional 2,059 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Cadence Bancorp during the 2nd quarter valued at $169,000. Finally, Atria Investments LLC acquired a new stake in Cadence Bancorp during the 2nd quarter valued at $226,000. 92.60% of the stock is owned by institutional investors.

CADE stock opened at $17.89 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 8.64 and a beta of 1.80. The business’s fifty day moving average price is $15.80 and its two-hundred day moving average price is $19.04. Cadence Bancorp has a fifty-two week low of $14.66 and a fifty-two week high of $27.75.

Cadence Bancorp (NYSE:CADE) last issued its quarterly earnings results on Monday, July 22nd. The company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.18). Cadence Bancorp had a return on equity of 11.46% and a net margin of 22.62%. The company had revenue of $192.51 million during the quarter, compared to the consensus estimate of $197.27 million. The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. Research analysts expect that Cadence Bancorp will post 1.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, August 29th. Cadence Bancorp’s dividend payout ratio (DPR) is presently 33.82%.

Several equities research analysts have issued reports on CADE shares. Goldman Sachs Group downgraded Cadence Bancorp from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Monday, July 22nd. Keefe, Bruyette & Woods downgraded Cadence Bancorp from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a report on Tuesday, July 23rd. Stephens reaffirmed a “hold” rating and set a $18.00 price target on shares of Cadence Bancorp in a report on Friday, July 26th. SunTrust Banks cut their price target on Cadence Bancorp from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, August 27th. Finally, Zacks Investment Research downgraded Cadence Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Cadence Bancorp currently has an average rating of “Hold” and an average price target of $21.44.

In related news, Director J Richard Fredericks acquired 3,105 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were bought at an average cost of $16.10 per share, with a total value of $49,990.50. Following the completion of the purchase, the director now directly owns 19,764 shares in the company, valued at $318,200.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William B. Harrison, Jr. acquired 64,168 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $15.53 per share, for a total transaction of $996,529.04. Following the completion of the purchase, the director now owns 95,899 shares of the company’s stock, valued at $1,489,311.47. The disclosure for this purchase can be found here. Insiders purchased 98,483 shares of company stock worth $1,551,597 over the last ninety days. 3.34% of the stock is currently owned by insiders.

Cadence Bancorp Company Profile

Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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

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