Boston Partners Acquires Shares of 716,683 Cadence Bank (NYSE:CADE)

Boston Partners acquired a new position in shares of Cadence Bank (NYSE:CADE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 716,683 shares of the company's stock, valued at approximately $24,834,000. Boston Partners owned about 0.39% of Cadence Bank at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its holdings in Cadence Bank by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company's stock valued at $1,284,000 after buying an additional 300 shares during the period. GAMMA Investing LLC raised its stake in shares of Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock valued at $64,000 after acquiring an additional 301 shares during the period. Ironwood Investment Management LLC lifted its holdings in shares of Cadence Bank by 1.2% in the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock worth $1,039,000 after acquiring an additional 354 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Cadence Bank by 0.8% during the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company's stock worth $1,827,000 after purchasing an additional 415 shares during the period. Finally, KBC Group NV increased its holdings in Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company's stock valued at $160,000 after purchasing an additional 519 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Cadence Bank Price Performance

Shares of CADE traded up $1.06 during mid-day trading on Monday, reaching $31.38. 1,575,889 shares of the company's stock were exchanged, compared to its average volume of 1,182,392. The business's fifty day simple moving average is $33.34 and its 200-day simple moving average is $34.03. The stock has a market capitalization of $5.72 billion, a PE ratio of 11.33 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter in the prior year, the company posted $0.40 EPS. Equities research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's payout ratio is 39.71%.

Analyst Ratings Changes

A number of research analysts have commented on CADE shares. Royal Bank of Canada restated a "sector perform" rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Morgan Stanley decreased their target price on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lifted their target price on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Citigroup increased their price target 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. Finally, 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Cadence Bank has an average rating of "Moderate Buy" and an average 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.