8,775 Shares in Cadence Bank (NYSE:CADE) Acquired by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC purchased a new stake in shares of Cadence Bank (NYSE:CADE) during the fourth quarter, Holdings Channel.com reports. The firm purchased 8,775 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fifth Third Bancorp increased its position in shares of Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after acquiring an additional 905 shares during the period. Wolverine Asset Management LLC lifted its holdings in shares of Cadence Bank by 952.0% during the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock worth $31,000 after purchasing an additional 952 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Cadence Bank by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after buying an additional 524 shares during the last quarter. Hardy Reed LLC acquired a new position in Cadence Bank in the 3rd quarter worth approximately $203,000. Finally, Moody Lynn & Lieberson LLC purchased a new position in Cadence Bank during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

NYSE CADE traded up $0.20 on Thursday, hitting $29.40. The company had a trading volume of 1,601,507 shares, compared to its average volume of 1,340,580. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $28.00 and its 200-day moving average price is $27.09. The company has a market capitalization of $5.36 billion, a PE ratio of 9.39 and a beta of 1.01. Cadence Bank has a 12-month low of $17.38 and a 12-month high of $31.45.

Cadence Bank (NYSE:CADE) last released its earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The business had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. During the same quarter in the previous year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, analysts predict that Cadence Bank will post 2.48 earnings per share for the current year.

Cadence Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.40%. Cadence Bank’s payout ratio is currently 31.95%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Truist Financial upped their target price on Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Stephens reiterated an “overweight” rating and set a $33.00 price target on shares of Cadence Bank in a research report on Tuesday, April 23rd. Hovde Group upgraded Cadence Bank from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $32.50 to $33.00 in a research report on Wednesday, April 24th. Finally, Raymond James cut their target price on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.09.

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.