Amalgamated Bank Has $2.26 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Amalgamated Bank decreased its holdings in shares of Cadence Bank (NYSE:CADEFree Report) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,569 shares of the company’s stock after selling 2,895 shares during the quarter. Amalgamated Bank’s holdings in Cadence Bank were worth $2,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Cadence Bank by 4.7% during the 2nd quarter. Victory Capital Management Inc. now owns 33,192 shares of the company’s stock worth $652,000 after acquiring an additional 1,494 shares during the period. ProShare Advisors LLC increased its holdings in Cadence Bank by 1,212.0% in the second quarter. ProShare Advisors LLC now owns 422,520 shares of the company’s stock valued at $8,298,000 after purchasing an additional 390,316 shares during the last quarter. Raymond James & Associates increased its holdings in Cadence Bank by 1.8% in the second quarter. Raymond James & Associates now owns 658,758 shares of the company’s stock valued at $12,938,000 after purchasing an additional 11,414 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Cadence Bank by 28.0% in the second quarter. Hsbc Holdings PLC now owns 217,613 shares of the company’s stock valued at $4,308,000 after buying an additional 47,588 shares during the period. Finally, Barclays PLC grew its position in shares of Cadence Bank by 30.7% during the 3rd quarter. Barclays PLC now owns 528,407 shares of the company’s stock worth $11,212,000 after buying an additional 124,084 shares during the period. 80.22% of the stock is owned by institutional investors.

Cadence Bank Price Performance

Shares of CADE opened at $26.75 on Monday. The company has a 50 day moving average of $28.50 and a 200-day moving average of $24.76. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.89 billion, a P/E ratio of 9.19 and a beta of 1.02. Cadence Bank has a twelve month low of $16.95 and a twelve month high of $31.45.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a $0.25 dividend. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.74%. The ex-dividend date is Thursday, March 14th. Cadence Bank’s payout ratio is presently 34.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CADE shares. TheStreet cut Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. Hovde Group lowered shares of Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price target for the company. in a report on Tuesday, January 30th. Piper Sandler dropped their price objective on Cadence Bank from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price target on shares of Cadence Bank in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and a consensus price target of $28.13.

Check Out Our Latest Stock Analysis on CADE

Cadence Bank Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Bank (NYSE:CADEFree Report).

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

Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter.