Vanguard Group Inc. Grows Stock Position in Cadence Bank (NYSE:CADE)

Vanguard Group Inc. boosted its position in shares of Cadence Bank (NYSE:CADE) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,488,277 shares of the company’s stock after buying an additional 191,717 shares during the quarter. Vanguard Group Inc. owned 0.11% of Cadence Bank worth $705,821,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CADE. Brooklyn Investment Group bought a new stake in shares of Cadence Bank in the 4th quarter worth about $26,000. Mather Group LLC. boosted its position in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after buying an additional 709 shares during the period. Keystone Financial Group Inc. bought a new position in shares of Cadence Bank during the fourth quarter valued at approximately $31,000. Point72 Hong Kong Ltd purchased a new stake in shares of Cadence Bank in the third quarter worth approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after acquiring an additional 722 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Down 2.1 %

Shares of NYSE:CADE opened at $30.12 on Monday. The firm has a 50 day moving average of $32.92 and a 200 day moving average of $34.04. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 10.87 and a beta of 0.96. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period in the prior year, the firm posted $0.40 EPS. On average, sell-side analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.65%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 39.71%.

Wall Street Analysts Forecast Growth

CADE has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Citigroup raised their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.77.

Cadence Bank Company 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.