Cadence Bank (NYSE:CADE) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in Cadence Bank (NYSE:CADE) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 179,929 shares of the company’s stock after selling 10,264 shares during the period. Federated Hermes Inc. owned 0.10% of Cadence Bank worth $5,324,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in shares of Cadence Bank by 165.8% in the third 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. Allspring Global Investments Holdings LLC boosted its stake in Cadence Bank by 8.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock worth $142,000 after purchasing an additional 524 shares during the period. Hardy Reed LLC acquired a new stake in Cadence Bank during the 3rd quarter worth $203,000. Moody Lynn & Lieberson LLC purchased a new position in Cadence Bank during the 4th quarter worth $205,000. Finally, Precedent Wealth Partners LLC acquired a new position in Cadence Bank in the fourth quarter valued at $223,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CADE has been the subject of several analyst reports. Barclays upped their price objective on Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th. Stephens reissued an “overweight” rating and issued a $33.00 price objective on shares of Cadence Bank in a research note on Tuesday. Citigroup upped their price objective on shares of Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, December 29th. Finally, Truist Financial lifted their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cadence Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.09.

Cadence Bank Trading Down 1.1 %

Shares of CADE opened at $29.06 on Friday. Cadence Bank has a fifty-two week low of $16.95 and a fifty-two week high of $31.45. The stock has a fifty day moving average of $27.71 and a two-hundred day moving average of $26.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $5.31 billion, a PE ratio of 9.28 and a beta of 1.02.

Cadence Bank (NYSE:CADE) last released its earnings results on Tuesday, April 23rd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The firm had revenue of $437.69 million for the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, analysts forecast that Cadence Bank will post 2.39 EPS for the current year.

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.