Cadence Bank $CADE is Moody Aldrich Partners LLC’s Largest Position

by · The Cerbat Gem

Moody Aldrich Partners LLC increased its holdings in Cadence Bank (NYSE:CADE – Free Report) by 4.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 291,393 shares of the company’s stock after acquiring an additional 13,233 shares during the quarter. Cadence Bank accounts for 2.1% of Moody Aldrich Partners LLC’s portfolio, making the stock its largest position. Moody Aldrich Partners LLC’s holdings in Cadence Bank were worth $10,939,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in Cadence Bank by 24.4% during the second quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock valued at $46,000 after buying an additional 283 shares during the last quarter. Sheets Smith Wealth Management increased its stake in shares of Cadence Bank by 2.1% in the 3rd quarter. Sheets Smith Wealth Management now owns 18,418 shares of the company’s stock worth $691,000 after purchasing an additional 378 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Cadence Bank by 47.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,870 shares of the company’s stock worth $60,000 after purchasing an additional 600 shares during the period. Blue Trust Inc. raised its holdings in Cadence Bank by 9.2% in the 2nd quarter. Blue Trust Inc. now owns 7,224 shares of the company’s stock worth $231,000 after purchasing an additional 609 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its position in Cadence Bank by 3.1% during the first quarter. Focus Partners Advisor Solutions LLC now owns 20,661 shares of the company’s stock valued at $627,000 after purchasing an additional 622 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler set a $40.00 price objective on Cadence Bank and gave the stock a “neutral” rating in a research note on Monday, October 27th. Barclays lowered shares of Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley downgraded shares of Cadence Bank from an “overweight” rating to a “sell” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods cut shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and lifted their target price for the company from $41.00 to $49.00 in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $42.33.

Check Out Our Latest Research Report on CADE

Cadence Bank Stock Performance

Shares of NYSE:CADE opened at $42.83 on Thursday. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 15.52 and a beta of 0.97. The firm has a fifty day moving average price of $40.28 and a 200 day moving average price of $37.33. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $44.26.

Cadence Bank (NYSE:CADE – Get Free Report) last announced its quarterly earnings results 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. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. The company had revenue of $517.24 million for the quarter, compared to the consensus estimate of $523.60 million. During the same period in the previous year, the firm posted $0.73 EPS. As a group, research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a yield of 2.6%. Cadence Bank’s dividend payout ratio is presently 39.86%.

Cadence Bank Company Profile

(Free Report)

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.

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