Crossmark Global Holdings Inc. Sells 597 Shares of Cadence Bank (NYSE:CADE)

Posted by Defense World Staff on Oct 29th, 2023

Crossmark Global Holdings Inc. trimmed its position in shares of Cadence Bank (NYSE:CADE – Free Report) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,409 shares of the company’s stock after selling 597 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cadence Bank were worth $332,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State of Wyoming purchased a new position in shares of Cadence Bank during the fourth quarter valued at approximately $25,000. Covestor Ltd raised its holdings in Cadence Bank by 189.8% in the 1st quarter. Covestor Ltd now owns 2,455 shares of the company’s stock worth $72,000 after acquiring an additional 1,608 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in Cadence Bank by 34.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 3,097 shares of the company’s stock worth $77,000 after acquiring an additional 793 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management purchased a new position in Cadence Bank in the 1st quarter worth approximately $108,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Cadence Bank by 35.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,173 shares of the company’s stock worth $121,000 after acquiring an additional 1,603 shares during the last quarter. 80.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CADE has been the subject of a number of recent analyst reports. Piper Sandler decreased their price objective on shares of Cadence Bank from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley boosted their target price on shares of Cadence Bank from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Financial Group decreased their target price on shares of Cadence Bank from $23.00 to $22.00 in a research note on Tuesday, October 10th. TheStreet upgraded shares of Cadence Bank from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Finally, Truist Financial reduced their price objective on Cadence Bank from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued 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 an average rating of “Moderate Buy” and a consensus target price of $25.45.

View Our Latest Stock Report on Cadence Bank

Cadence Bank Trading Down 1.9 %

Shares of CADE stock opened at $20.90 on Friday. Cadence Bank has a 52-week low of $16.95 and a 52-week high of $29.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.79 and a current ratio of 0.80. The firm has a market capitalization of $3.82 billion, a PE ratio of 10.35 and a beta of 1.02. The stock has a fifty day simple moving average of $21.54 and a two-hundred day simple moving average of $21.14.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.235 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.94 dividend on an annualized basis and a yield of 4.50%. Cadence Bank’s payout ratio is presently 46.53%.

Cadence Bank Company Profile

(Free Report)

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.