MGO One Seven LLC Cuts Stock Holdings in Cadence Bank (NYSE:CADE)

MGO One Seven LLC trimmed its position in shares of Cadence Bank (NYSE:CADE – Free Report) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,030 shares of the company’s stock after selling 1,017 shares during the quarter. MGO One Seven LLC’s holdings in Cadence Bank were worth $333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CADE. State of New Jersey Common Pension Fund D boosted its stake in Cadence Bank by 6.9% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 100,403 shares of the company’s stock worth $2,084,000 after purchasing an additional 6,468 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in Cadence Bank by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 33,000 shares of the company’s stock worth $685,000 after purchasing an additional 4,200 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Cadence Bank by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 770,294 shares of the company’s stock worth $18,995,000 after purchasing an additional 40,847 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cadence Bank by 14.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,322 shares of the company’s stock worth $649,000 after purchasing an additional 3,415 shares during the last quarter. Finally, Barclays PLC boosted its stake in Cadence Bank by 97.4% during the 1st quarter. Barclays PLC now owns 249,484 shares of the company’s stock worth $5,181,000 after purchasing an additional 123,129 shares during the last quarter.

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Cadence Bank Trading Down 2.9 %

NYSE CADE opened at $24.37 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $4.45 billion, a P/E ratio of 11.13 and a beta of 1.02. The firm’s 50-day moving average is $22.02 and its two-hundred day moving average is $22.09. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $29.41.

Cadence Bank (NYSE:CADE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04). The company had revenue of $465.84 million during the quarter, compared to analyst estimates of $476.12 million. Cadence Bank had a return on equity of 12.79% and a net margin of 16.99%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, sell-side analysts anticipate that Cadence Bank will post 2.49 earnings per share for the current year.

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 3.86%. Cadence Bank’s payout ratio is currently 42.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CADE shares. Truist Financial lowered their target price on shares of Cadence Bank from $24.00 to $23.00 in a research note on Thursday, June 29th. TheStreet raised shares of Cadence Bank from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Finally, Stephens boosted their price target on shares of Cadence Bank from $24.00 to $27.00 in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.38.

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Cadence Bank Company Profile

(Free Report)

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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