Thrivent Financial for Lutherans, a financial services organization, recently reported an increase in shares of Cadence Bank. According to the organization’s recent Form 13F filing with the Securities and Exchange Commission (SEC), Thrivent Financial for Lutherans raised its position in shares of Cadence Bank by 14.2% in the fourth quarter. During this time period, the fund acquired an additional 52,125 shares, totaling its ownership to 418,716 shares. As of its most recent SEC filing, Thrivent’s ownership was approximately 0.39% of Cadence Bank worth $10,325,000.
Cadence Bank provides banking and financial solutions to consumers and businesses alike. The company offers a comprehensive range of financial products and services such as consumer loans, credit cards, commercial and business banking solutions including treasury management, lending and asset-based lending, among others.
On April 25th of this year, Cadence Bank announced that it posted a quarterly EPS of $0.68 per share compared to analysts’ consensus estimates of $0.66 per share- an increase of $0.02 per share. Furthermore, the company had revenue worth around $600.20 million for Q1 compared to analyst estimates which projected it at $456.09 million-an indication that their financial performance is certainly promising.
Cadence Bank is bullish on their corporate trajectory considering their upcoming fiscal year earnings forecasted at 2.7 EPS per share – thereby indicating growth is expected across all sectors within the bank.
Foreign exchange services from companies like Cadence play an integral role in providing convenience to patrons operating overseas whilst simultaneously offering unparalleled financial inclusion opportunities – Visa-free travel allowances being one such advantage.
In conclusion, with the rising interest in foreign exchange transactions worldwide coupled with innovative processes that have streamlined non-cash payments globally – more banking solutions such as those offered by Cadence are expected to emerge making long-distance money transfer less complex and more affordable for all.
Cadence Bank: A Promising Investment Opportunity for Stockholders
Cadence Bank: A Promising Investment Opportunity for Stockholders
Cadence Bank is a bank and financial solutions provider offering consumer banking, business banking, lending, corporate banking, correspondent banking, wealth management and investment services. The company’s services and products help consumers meet their banking and financial needs.
Several hedge funds have made changes to their positions in Cadence Bank recently. Bank of Montreal Can saw a 4.4% raise in its holdings by acquiring an additional 841 shares last quarter; Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings by 6.2% by adding 4,059 shares during the last quarter; Cibc World Market Inc. acquired new stake valued at $2,437,000 during the first quarter; Sei Investments Co. increased its holdings by 1,892.1%, adding 239100 shares in the first quarter; Canada Pension Plan Investment Board also acquired new stakes worth $2,458k in the same period.
NYSE:CADE opened on Friday at $17.83 marking a significant change from the fifty-day moving average at $20.94 as well as two-hundred-day moving average price at $24.56. The market cap for Cadence Banks stands currently at $1.94 billion with a beta of around 0.96 signifying that it carries lower volatility compared to other stocks.
At present Cadence Bank offers diversified range of products and services catering multiple domains like consumer loans, mortgages equity lines and loans home credit cards commercial business banking treasury management lending asset-based lending commercial real estate equipment financing correspondent banking SBA lending foreign exchange wealth management investment trust services financial planning retirement plan management personal business insurance.
The company’s recently announced quarterly dividend will pay out on July 3rd to investors who owned stocks on June 15th representing annualized dividends with yields of up to 5.27%. At present DPR stands at 41.59%.
Several analyst reports have observed Cadence Bank’s performance lately; DA Davidson lowered its price objective to $25.0 and set a “buy” rating for the company in a research report; Truist Financial also lowered their price target from $29.00 to $25.00 but reiterated a “buy” rating; Keefe, Bruyette & Woods cut their price target to $28.00 before assigning an “outperform” rating on the stock in their report; finally Morgan Stanley cut its price target on Cadence Bank from $29.00 to $23.00 and categorized it as “equal weight.”
In conclusion, there is general optimism towards investing in Cadence banks as several hedge funds are increasing their holdings as well as positive notes from analysts highlighting valuable gains for investors who decide to purchase stocks during this particular period.
