11,730 Shares in Cadence Bank (NYSE:CADE) Purchased by Aigen Investment Management LP

Aigen Investment Management LP acquired a new position in shares of Cadence Bank (NYSE:CADE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,730 shares of the company's stock, valued at approximately $404,000.

Other large investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Cadence Bank during the 3rd quarter worth approximately $11,727,000. Vaughan Nelson Investment Management L.P. increased its position in Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company's stock worth $66,360,000 after buying an additional 291,885 shares during the last quarter. Fisher Asset Management LLC increased its position in Cadence Bank by 19.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,655,847 shares of the company's stock worth $57,044,000 after buying an additional 264,691 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Cadence Bank by 21.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company's stock valued at $42,396,000 after buying an additional 237,748 shares during the period. Finally, FMR LLC lifted its position in shares of Cadence Bank by 1.2% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Down 0.3 %

NYSE:CADE traded down $0.10 during trading hours on Friday, hitting $30.45. 1,165,625 shares of the company's stock traded hands, compared to its average volume of 1,164,860. The firm has a market cap of $5.55 billion, a P/E ratio of 10.99 and a beta of 0.96. The business's fifty day simple moving average is $34.34 and its two-hundred day simple moving average is $34.15. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20.

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Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share 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 period in the previous year, the business earned $0.40 EPS. On average, analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, March 14th. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's payout ratio is 39.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CADE shares. Keefe, Bruyette & Woods lifted their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Citigroup lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Royal Bank of Canada reissued a "sector perform" rating and issued a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. 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 research note on Thursday, December 19th. Finally, Stephens restated an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Cadence Bank has a consensus rating of "Moderate Buy" and an average target price of $38.50.

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.