AlphaQuest LLC Has $825,000 Stock Position in Cadence Bank $CADE

AlphaQuest LLC boosted its holdings in Cadence Bank (NYSE:CADE) by 2,197,900.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,980 shares of the company’s stock after buying an additional 21,979 shares during the period. AlphaQuest LLC’s holdings in Cadence Bank were worth $825,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of Cadence Bank by 1.4% in the third quarter. Arizona State Retirement System now owns 54,075 shares of the company’s stock worth $2,030,000 after acquiring an additional 744 shares during the last quarter. New York State Common Retirement Fund raised its stake in Cadence Bank by 0.5% during the 3rd quarter. New York State Common Retirement Fund now owns 613,559 shares of the company’s stock valued at $23,033,000 after purchasing an additional 3,100 shares during the last quarter. Federated Hermes Inc. raised its stake in Cadence Bank by 41.4% during the 3rd quarter. Federated Hermes Inc. now owns 110,808 shares of the company’s stock valued at $4,160,000 after purchasing an additional 32,455 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Cadence Bank by 3.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 23,820 shares of the company’s stock valued at $894,000 after purchasing an additional 844 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Cadence Bank in the 3rd quarter worth $39,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Stock Down 1.6%

Shares of CADE opened at $42.14 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $43.10 and a two-hundred day moving average price of $39.13. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 14.94 and a beta of 0.95. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $46.74.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.79 by $0.06. The business had revenue of $528.41 million for the quarter, compared to analyst estimates of $525.15 million. Cadence Bank had a return on equity of 10.16% and a net margin of 18.12%.During the same quarter in the previous year, the firm earned $0.70 EPS. Equities analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, January 30th will be given a dividend of $0.3438 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, January 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.3%. Cadence Bank’s dividend payout ratio is 39.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CADE. Keefe, Bruyette & Woods lowered shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Piper Sandler set a $40.00 target price on Cadence Bank and gave the stock a “neutral” rating in a research report on Monday, October 27th. Barclays cut Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Bank in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada raised Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Cadence Bank has an average rating of “Hold” and a consensus target price of $42.88.

Cadence Bank Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.