Moody Aldrich Partners LLC Has $9.39 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Moody Aldrich Partners LLC raised its position in shares of Cadence Bank (NYSE:CADE) by 28.6% during the third quarter, HoldingsChannel reports. The firm owned 294,932 shares of the company’s stock after purchasing an additional 65,595 shares during the period. Cadence Bank makes up approximately 1.7% of Moody Aldrich Partners LLC’s holdings, making the stock its 4th biggest holding. Moody Aldrich Partners LLC’s holdings in Cadence Bank were worth $9,394,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CADE. V Square Quantitative Management LLC purchased a new stake in shares of Cadence Bank in the 3rd quarter valued at $25,000. GAMMA Investing LLC lifted its stake in Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after purchasing an additional 436 shares during the last quarter. Innealta Capital LLC purchased a new stake in Cadence Bank during the second quarter valued at about $138,000. Davis Investment Partners LLC bought a new position in shares of Cadence Bank during the third quarter valued at about $202,000. Finally, Argent Advisors Inc. purchased a new position in shares of Cadence Bank in the first quarter worth about $204,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CADE shares. Jefferies Financial Group decreased their price target on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Barclays increased their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, Hovde Group increased their target price on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $35.29.

Cadence Bank Stock Down 1.0 %

Shares of NYSE:CADE traded down $0.34 during trading on Thursday, hitting $33.48. The stock had a trading volume of 89,503 shares, compared to its average volume of 1,322,826. The company has a market capitalization of $6.10 billion, a PE ratio of 10.81 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $31.71 and its 200 day moving average is $29.91. Cadence Bank has a 12 month low of $19.94 and a 12 month high of $34.25.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.64 by $0.09. The business had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Analysts anticipate that Cadence Bank will post 2.57 EPS for the current fiscal year.

About Cadence Bank

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.