Mutual of America Capital Management LLC Has $2.97 Million Stock Position in Cadence Bank $CADE

Mutual of America Capital Management LLC lowered its stake in Cadence Bank (NYSE:CADE) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,686 shares of the company’s stock after selling 1,774 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Cadence Bank worth $2,965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CADE. GAMMA Investing LLC increased its position in shares of Cadence Bank by 55.3% in the first quarter. GAMMA Investing LLC now owns 2,892 shares of the company’s stock valued at $88,000 after acquiring an additional 1,030 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Cadence Bank by 2.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 69,707 shares of the company’s stock valued at $2,116,000 after acquiring an additional 1,670 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Cadence Bank by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 21,500 shares of the company’s stock valued at $652,000 after acquiring an additional 640 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Cadence Bank by 76,386.7% in the first quarter. Bessemer Group Inc. now owns 615,718 shares of the company’s stock valued at $18,694,000 after acquiring an additional 614,913 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cadence Bank by 86.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 319,451 shares of the company’s stock worth $9,699,000 after purchasing an additional 147,791 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Performance

NYSE:CADE opened at $36.51 on Friday. The stock has a market cap of $6.65 billion, a P/E ratio of 13.23 and a beta of 0.88. The stock has a 50 day simple moving average of $37.34 and a 200 day simple moving average of $33.72. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.23.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Monday, October 20th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $517.24 million during the quarter, compared to analysts’ expectations of $523.60 million. Cadence Bank had a return on equity of 10.08% and a net margin of 18.15%.During the same period last year, the firm posted $0.73 EPS. Research analysts anticipate 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 issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 15th. Cadence Bank’s dividend payout ratio (DPR) is presently 39.86%.

Analyst Ratings Changes

A number of research firms recently commented on CADE. DA Davidson lifted their price target on Cadence Bank from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Royal Bank Of Canada lifted their price target on Cadence Bank from $37.00 to $43.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Morgan Stanley lifted their price target on Cadence Bank from $38.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Bank in a report on Friday. Finally, Zacks Research cut Cadence Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and an average target price of $42.44.

About Cadence Bank

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.