American Century Companies Inc. Grows Holdings in Cadence Bank (NYSE:CADE)

American Century Companies Inc. lifted its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,735 shares of the company's stock after purchasing an additional 11,793 shares during the quarter. American Century Companies Inc. owned 0.09% of Cadence Bank worth $5,537,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CADE. Oregon Public Employees Retirement Fund boosted its position in Cadence Bank by 0.8% in the fourth 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 in the last quarter. GAMMA Investing LLC raised its stake in Cadence Bank by 19.3% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock worth $64,000 after buying an additional 301 shares during the last quarter. Ironwood Investment Management LLC boosted its position in shares of Cadence Bank by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock valued at $1,039,000 after purchasing an additional 354 shares in the last quarter. Arizona State Retirement System lifted its stake in Cadence Bank by 0.8% in the fourth quarter. Arizona State Retirement System now owns 53,034 shares of the company's stock valued at $1,827,000 after buying an additional 415 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Cadence Bank by 1.4% during the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company's stock worth $1,406,000 after acquiring an additional 599 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

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Cadence Bank Price Performance

NYSE CADE traded up $2.37 on Wednesday, reaching $28.79. 2,688,865 shares of the company's stock traded hands, compared to its average volume of 1,260,523. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.20. The stock has a 50-day simple moving average of $31.50 and a 200 day simple moving average of $33.76. The stock has a market cap of $5.25 billion, a PE ratio of 10.39 and a beta of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 company earned $0.40 earnings per share. As a group, analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.275 dividend. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Friday, March 14th. Cadence Bank's dividend payout ratio (DPR) is currently 39.71%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CADE shares. Royal Bank of Canada restated a "sector perform" rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Hovde Group decreased their price target on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating for the company in a research note on Wednesday, April 2nd. Citigroup boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Barclays dropped their target price on Cadence Bank from $44.00 to $38.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Stephens reaffirmed an "overweight" rating and set a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.09.

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.