Ranger Investment Management L.P. Has $13.52 Million Holdings in Cadence Bank $CADE

Ranger Investment Management L.P. decreased its position in Cadence Bank (NYSE:CADE) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 360,060 shares of the company’s stock after selling 11,895 shares during the period. Ranger Investment Management L.P. owned approximately 0.20% of Cadence Bank worth $13,517,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CADE. NorthCrest Asset Manangement LLC increased its holdings in Cadence Bank by 1.0% in the third quarter. NorthCrest Asset Manangement LLC now owns 28,279 shares of the company’s stock worth $1,105,000 after purchasing an additional 282 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Cadence Bank by 24.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock valued at $46,000 after acquiring an additional 283 shares during the period. KLP Kapitalforvaltning AS boosted its stake in Cadence Bank by 0.8% during the third quarter. KLP Kapitalforvaltning AS now owns 38,128 shares of the company’s stock worth $1,440,000 after acquiring an additional 300 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Cadence Bank by 16.2% in the third quarter. Jones Financial Companies Lllp now owns 2,629 shares of the company’s stock worth $99,000 after purchasing an additional 366 shares during the period. Finally, Sheets Smith Wealth Management increased its stake in Cadence Bank by 2.1% in the third quarter. Sheets Smith Wealth Management now owns 18,418 shares of the company’s stock valued at $691,000 after purchasing an additional 378 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on CADE shares. Morgan Stanley lowered Cadence Bank from an “overweight” rating to a “sell” rating in a research report on Tuesday, October 28th. Piper Sandler set a $40.00 price objective on Cadence Bank and gave the company a “neutral” rating in a report on Monday, October 27th. Royal Bank Of Canada upgraded Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods lowered shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from $41.00 to $49.00 in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.88.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $42.14 on Friday. The company has a market capitalization of $7.68 billion, a P/E ratio of 14.94 and a beta of 0.95. The company’s 50-day moving average is $43.24 and its 200 day moving average is $39.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $46.74.

Cadence Bank (NYSE:CADE) last released its earnings results on Thursday, January 22nd. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Cadence Bank had a net margin of 18.12% and a return on equity of 10.16%. The firm had revenue of $528.41 million for the quarter, compared to analysts’ expectations of $525.15 million. During the same period in the previous year, the company earned $0.70 earnings per share. On average, equities research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

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

Cadence Bank Company 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.