Intech Investment Management LLC Has $3.52 Million Stock Holdings in Cadence Bank $CADE

Intech Investment Management LLC trimmed its position in Cadence Bank (NYSE:CADE) by 7.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 110,144 shares of the company’s stock after selling 9,231 shares during the period. Intech Investment Management LLC owned 0.06% of Cadence Bank worth $3,522,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in shares of Cadence Bank in the 2nd quarter valued at about $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cadence Bank in the 1st quarter worth about $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Cadence Bank during the 2nd quarter valued at $65,000. CWM LLC increased its position in Cadence Bank by 49.8% in the first quarter. CWM LLC now owns 5,799 shares of the company’s stock worth $176,000 after buying an additional 1,928 shares during the last quarter. Finally, Americana Partners LLC purchased a new stake in Cadence Bank during the second quarter valued at about $201,000. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $37.52 on Wednesday. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 13.59 and a beta of 0.95. The firm’s 50 day simple moving average is $37.62 and its 200-day simple moving average is $34.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.23.

Cadence Bank (NYSE:CADE) last issued its 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. Cadence Bank had a return on equity of 10.08% and a net margin of 18.15%.The business had revenue of $517.24 million for the quarter, compared to analysts’ expectations of $523.60 million. During the same period in the previous year, the firm posted $0.73 EPS. Analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, December 15th. Cadence Bank’s dividend payout ratio (DPR) is 39.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CADE shares. Morgan Stanley cut shares of Cadence Bank from an “overweight” rating to a “sell” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Hovde Group raised their price objective on shares of Cadence Bank from $34.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Barclays downgraded Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods downgraded shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and increased their price target for the company from $41.00 to $49.00 in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Cadence Bank has a consensus rating of “Hold” and an average target price of $42.33.

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.