Louisiana State Employees Retirement System Has $1.68 Million Stock Position in Cadence Bank $CADE

Louisiana State Employees Retirement System raised its holdings in Cadence Bank (NYSE:CADE) by 1.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,400 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cadence Bank were worth $1,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings 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 valued at $409,301,000 after buying an additional 980,369 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings 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. Fuller & Thaler Asset Management Inc. grew its holdings in Cadence Bank by 5.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,619,544 shares of the company’s stock valued at $109,889,000 after buying an additional 193,582 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Cadence Bank by 19.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company’s stock valued at $92,640,000 after buying an additional 480,622 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Cadence Bank by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock valued at $85,953,000 after buying an additional 244,146 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of CADE stock opened at $37.72 on Friday. The stock’s fifty day simple moving average is $36.94 and its 200 day simple moving average is $33.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 13.42 and a beta of 0.88. Cadence Bank has a one year low of $25.22 and a one year high of $40.23.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. The business had revenue of $476.32 million for the quarter, compared to analyst estimates of $467.60 million. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.During the same quarter in the previous year, the firm earned $0.73 EPS. On average, analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.10 annualized dividend and a yield of 2.9%. Cadence Bank’s payout ratio is currently 39.15%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Cadence Bank from $37.00 to $43.00 and gave the company a “sector perform” rating in a report on Friday. 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 report on Monday, July 28th. Barclays lifted their price objective on Cadence Bank from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday. Stephens lifted their price objective on Cadence Bank from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, Morgan Stanley lifted their price objective on Cadence Bank from $38.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Cadence Bank 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.