Amalgamated Bank Sells 9,839 Shares of Cadence Bank (NYSE:CADE)

Amalgamated Bank reduced its position in Cadence Bank (NYSE:CADEGet Rating) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 120,975 shares of the company’s stock after selling 9,839 shares during the quarter. Amalgamated Bank’s holdings in Cadence Bank were worth $3,540,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CADE. Rockefeller Capital Management L.P. boosted its stake in Cadence Bank by 1.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,047 shares of the company’s stock worth $686,000 after acquiring an additional 431 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in Cadence Bank by 1.8% during the first quarter. Ironwood Investment Management LLC now owns 32,825 shares of the company’s stock worth $960,000 after acquiring an additional 589 shares in the last quarter. Bank of Montreal Can boosted its stake in Cadence Bank by 4.4% during the first quarter. Bank of Montreal Can now owns 19,804 shares of the company’s stock worth $603,000 after acquiring an additional 841 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Cadence Bank by 5.9% during the first quarter. Crossmark Global Holdings Inc. now owns 16,083 shares of the company’s stock worth $471,000 after acquiring an additional 900 shares in the last quarter. Finally, Ignite Planners LLC boosted its stake in Cadence Bank by 9.0% during the first quarter. Ignite Planners LLC now owns 10,912 shares of the company’s stock worth $290,000 after acquiring an additional 900 shares in the last quarter.

Cadence Bank Stock Performance

Shares of CADE stock opened at $26.61 on Friday. The firm has a 50-day moving average of $26.07 and a 200-day moving average of $26.26. The company has a market cap of $2.89 billion, a P/E ratio of 15.56 and a beta of 1.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.71 and a quick ratio of 0.71. Cadence Bank has a one year low of $22.04 and a one year high of $34.24.

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

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.31%. Cadence Bank’s dividend payout ratio (DPR) is presently 51.46%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CADE. Raymond James lowered their price objective 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. Jefferies Financial Group lowered their price objective on shares of Cadence Bank from $28.00 to $26.00 in a report on Monday, July 11th. TheStreet upgraded shares of Cadence Bank from a “c+” rating to a “b-” rating in a report on Friday, May 27th. Stephens upped their price objective on shares of Cadence Bank to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Piper Sandler lowered their price objective on shares of Cadence Bank to $33.00 in a report on Monday, July 4th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cadence Bank has a consensus rating of “Buy” and an average target price of $31.33.

Cadence Bank Profile

(Get Rating)

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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