Police & Firemen s Retirement System of New Jersey Purchases 1,535 Shares of Cadence Bank $CADE

Police & Firemen s Retirement System of New Jersey raised its stake in Cadence Bank (NYSE:CADE) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,690 shares of the company’s stock after acquiring an additional 1,535 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Cadence Bank were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CADE. Wellington Management Group LLP raised its position in Cadence Bank by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company’s stock worth $409,301,000 after purchasing an additional 980,369 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Cadence Bank by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,520,057 shares of the company’s stock valued at $167,589,000 after buying an additional 32,362 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Cadence Bank by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,664,361 shares of the company’s stock valued at $149,182,000 after buying an additional 113,593 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Cadence Bank by 5.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,619,544 shares of the company’s stock worth $109,889,000 after acquiring an additional 193,582 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Cadence Bank by 19.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company’s stock valued at $92,640,000 after acquiring an additional 480,622 shares during the period. 84.61% of the stock is owned by institutional investors.

Cadence Bank Stock Performance

Shares of NYSE:CADE opened at $38.97 on Friday. The firm’s 50 day simple moving average is $37.65 and its 200 day simple moving average is $35.07. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.23. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 14.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $517.24 million during the quarter, compared to analysts’ expectations of $523.60 million. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. During the same quarter in the previous year, the company earned $0.73 earnings per share. As a group, sell-side analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a $0.275 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. Cadence Bank’s dividend payout ratio is currently 39.86%.

Wall Street Analyst Weigh In

CADE has been the subject of a number of research reports. Hovde Group lifted their price objective on Cadence Bank from $34.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th. Zacks Research lowered shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Wall Street Zen cut shares of Cadence Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Finally, DA Davidson raised their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Cadence Bank currently has an average rating of “Hold” and an average price target of $42.33.

Cadence Bank Company Profile

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.