19,410 Shares in Cadence Bank (NYSE:CADE) Bought by Capstone Wealth Management LLC

Capstone Wealth Management LLC acquired a new stake in shares of Cadence Bank (NYSE:CADE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,410 shares of the company’s stock, valued at approximately $669,000. Cadence Bank accounts for 0.7% of Capstone Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Cadence Bank by 1.2% during the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after buying an additional 195,773 shares during the period. State Street Corp grew its stake in Cadence Bank by 1.9% in the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company’s stock worth $284,759,000 after acquiring an additional 165,282 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after purchasing an additional 39,679 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Cadence Bank by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock valued at $71,423,000 after acquiring an additional 105,231 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after purchasing an additional 291,885 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CADE shares. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Truist Financial raised their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their target price on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.32.

Cadence Bank Stock Up 0.8 %

Shares of NYSE:CADE opened at $35.95 on Wednesday. The business has a fifty day moving average of $36.16 and a two-hundred day moving average of $33.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.55 billion, a P/E ratio of 10.33 and a beta of 1.00. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. During the same period last year, the business earned $0.56 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts expect that Cadence Bank will post 2.71 earnings per share for the current year.

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.