Cadence Bank (NYSE:CADE) Holdings Decreased by Geode Capital Management LLC

Geode Capital Management LLC reduced its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,342,471 shares of the company's stock after selling 20,072 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of Cadence Bank worth $149,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in shares of Cadence Bank by 55.6% in the third quarter. Captrust Financial Advisors now owns 23,606 shares of the company's stock worth $752,000 after acquiring an additional 8,431 shares during the last quarter. Verition Fund Management LLC raised its stake in Cadence Bank by 24.3% in the 3rd quarter. Verition Fund Management LLC now owns 19,482 shares of the company's stock valued at $621,000 after purchasing an additional 3,807 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Cadence Bank by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company's stock valued at $1,406,000 after purchasing an additional 599 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Cadence Bank during the 3rd quarter worth about $302,000. Finally, Stifel Financial Corp grew its holdings in shares of Cadence Bank by 18.1% during the third quarter. Stifel Financial Corp now owns 21,034 shares of the company's stock worth $670,000 after buying an additional 3,218 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have issued reports on CADE shares. Stephens reissued an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Citigroup boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Hovde Group reduced their price objective on Cadence Bank from $40.00 to $35.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 2nd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.09.

Cadence Bank Stock Up 0.9 %

Shares of CADE traded up $0.24 during mid-day trading on Friday, reaching $27.21. 1,531,704 shares of the stock traded hands, compared to its average volume of 1,262,759. The stock has a fifty day simple moving average of $31.19 and a 200 day simple moving average of $33.70. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 9.82 and a beta of 0.87.

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 (EPS) for the quarter, topping 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 quarter in the prior year, the firm posted $0.40 EPS. On average, equities research analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.04%. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. Cadence Bank's dividend payout ratio is 39.71%.

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.