Segall Bryant & Hamill LLC Has $42.40 Million Position in Cadence Bank (NYSE:CADE)

Segall Bryant & Hamill LLC increased its holdings in Cadence Bank (NYSE:CADE) by 21.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,331,112 shares of the company’s stock after buying an additional 237,748 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Cadence Bank were worth $42,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in shares of Cadence Bank in the 3rd quarter worth approximately $212,000. Quest Partners LLC increased its position in Cadence Bank by 390,500.0% in the third quarter. Quest Partners LLC now owns 7,812 shares of the company’s stock worth $249,000 after purchasing an additional 7,810 shares during the period. MAI Capital Management lifted its holdings in Cadence Bank by 132.9% in the third quarter. MAI Capital Management now owns 41,685 shares of the company’s stock valued at $1,328,000 after buying an additional 23,790 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Cadence Bank in the 3rd quarter valued at $220,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after acquiring an additional 291,885 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Piper Sandler cut Cadence Bank from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. DA Davidson increased their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stephens reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a report on Tuesday, July 23rd. Finally, Truist Financial lifted their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.29.

Cadence Bank Price Performance

CADE stock opened at $37.30 on Wednesday. The company’s 50-day moving average price is $33.42 and its two-hundred day moving average price is $31.01. Cadence Bank has a 12 month low of $24.15 and a 12 month high of $39.79. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a market cap of $6.80 billion, a P/E ratio of 10.72 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The firm had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.68%. Cadence Bank’s dividend payout ratio is currently 28.74%.

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.