International Assets Investment Management LLC Invests $1.03 Million in Cadence Bank (NYSE:CADE)

Posted by on Apr 11th, 2023

International Assets Investment Management LLC purchased a new stake in Cadence Bank (NYSE:CADE – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 41,731 shares of the company’s stock, valued at approximately $1,029,000.

Several other large investors have also recently bought and sold shares of CADE. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Cadence Bank during the 3rd quarter valued at about $29,000. Private Trust Co. NA purchased a new position in shares of Cadence Bank during the second quarter worth approximately $28,000. Exchange Traded Concepts LLC lifted its holdings in shares of Cadence Bank by 58.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,183 shares of the company’s stock worth $30,000 after acquiring an additional 437 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of Cadence Bank in the 3rd quarter valued at $50,000. Finally, Ronald Blue Trust Inc. grew its holdings in shares of Cadence Bank by 215.2% during the 4th quarter. Ronald Blue Trust Inc. now owns 2,304 shares of the company’s stock valued at $59,000 after purchasing an additional 1,573 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CADE shares. UBS Group initiated coverage on Cadence Bank in a report on Wednesday, March 15th. They issued a “sell” rating and a $21.00 price objective for the company. DA Davidson cut their price target on shares of Cadence Bank from $29.50 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, March 21st. Keefe, Bruyette & Woods cut their target price on shares of Cadence Bank from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Truist Financial reduced their price target on shares of Cadence Bank from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 23rd. Finally, Raymond James lowered their price objective on shares of Cadence Bank from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.90.

Cadence Bank Trading Up 2.3 %

NYSE:CADE opened at $20.97 on Tuesday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 8.52 and a beta of 0.96. Cadence Bank has a 52 week low of $19.24 and a 52 week high of $29.41. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $24.30 and a 200 day moving average of $25.64.

Cadence Bank (NYSE:CADE – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The firm had revenue of $474.23 million for the quarter, compared to the consensus estimate of $485.08 million. Cadence Bank had a net margin of 22.56% and a return on equity of 13.05%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. As a group, sell-side analysts anticipate that Cadence Bank will post 2.68 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th were given a dividend of $0.235 per share. The ex-dividend date was Tuesday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 4.48%. Cadence Bank’s dividend payout ratio (DPR) is currently 38.21%.

Cadence Bank Profile

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Cadence Bank provides banking and financial solutions to consumers, businesses and corporations. Its services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance.

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

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