J.W. Cole Advisors Inc. Has $832,000 Stake in Cadence Bank (NYSE:CADE)

J.W. Cole Advisors Inc. decreased its position in Cadence Bank (NYSE:CADEGet Rating) by 3.5% in the first quarter, HoldingsChannel reports. The firm owned 28,438 shares of the company’s stock after selling 1,042 shares during the period. J.W. Cole Advisors Inc.’s holdings in Cadence Bank were worth $832,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd acquired a new stake in shares of Cadence Bank during the 4th quarter valued at $25,000. Prospera Financial Services Inc acquired a new stake in shares of Cadence Bank in the 1st quarter valued at $58,000. Citizens National Bank Trust Department acquired a new stake in shares of Cadence Bank in the 4th quarter valued at $72,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cadence Bank in the 4th quarter valued at $114,000. Finally, Bollard Group LLC acquired a new stake in shares of Cadence Bank in the 1st quarter valued at $144,000.

Cadence Bank Stock Performance

NYSE:CADE opened at $26.54 on Friday. The firm’s 50-day moving average is $25.76 and its 200-day moving average is $26.30. Cadence Bank has a 52-week low of $22.04 and a 52-week high of $34.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 15.52 and a beta of 1.06.

Cadence Bank (NYSE:CADEGet Rating) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. Cadence Bank had a net margin of 17.35% and a return on equity of 11.07%. The company had revenue of $450.00 million for the quarter, compared to the consensus estimate of $443.43 million. During the same quarter in the previous year, the firm posted $0.86 EPS. Equities research analysts anticipate that Cadence Bank will post 2.92 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.32%. Cadence Bank’s dividend payout ratio (DPR) is currently 51.46%.

Analysts Set New Price Targets

Several research firms recently issued reports on CADE. TheStreet raised shares of Cadence Bank from a “c+” rating to a “b-” rating in a research note on Friday, May 27th. Stephens lifted their price objective on shares of Cadence Bank to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Raymond James dropped their target price on shares of Cadence Bank from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 7th. Piper Sandler dropped their target price on shares of Cadence Bank to $33.00 in a report on Monday, July 4th. Finally, Truist Financial dropped their target price on shares of Cadence Bank from $32.00 to $30.00 in a report on Wednesday, June 15th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.33.

Cadence Bank Profile

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Cadence Bank provides commercial banking and financial services in the United States. 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.

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

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