Cadence Bank (NYSE:CADE) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Cadence Bank (NYSE:CADE - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,836,594 shares of the company's stock after purchasing an additional 62,026 shares during the period. Bank of New York Mellon Corp owned 1.01% of Cadence Bank worth $63,271,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in Cadence Bank by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 21,160 shares of the company's stock worth $673,000 after buying an additional 1,435 shares in the last quarter. New York State Teachers Retirement System raised its stake in Cadence Bank by 0.8% in the third quarter. New York State Teachers Retirement System now owns 223,359 shares of the company's stock worth $7,114,000 after buying an additional 1,762 shares in the last quarter. US Bancorp DE raised its stake in Cadence Bank by 8.5% in the third quarter. US Bancorp DE now owns 22,839 shares of the company's stock worth $727,000 after buying an additional 1,781 shares in the last quarter. Wolverine Asset Management LLC raised its stake in Cadence Bank by 59.4% in the third quarter. Wolverine Asset Management LLC now owns 10,917 shares of the company's stock worth $348,000 after buying an additional 4,069 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in Cadence Bank by 7.2% in the third quarter. GSA Capital Partners LLP now owns 42,635 shares of the company's stock worth $1,358,000 after buying an additional 2,857 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Cadence Bank Stock Down 0.3 %

Shares of CADE stock traded down $0.10 during mid-day trading on Friday, hitting $30.45. 1,165,625 shares of the stock were exchanged, compared to its average volume of 1,164,860. The firm has a fifty day moving average of $34.34 and a 200 day moving average of $34.15. Cadence Bank has a 52-week low of $26.16 and a 52-week high of $40.20. The company has a market cap of $5.55 billion, a PE ratio of 10.99 and a beta of 0.96.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its earnings results 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 last year, the company posted $0.40 EPS. Equities analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company 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 dividend of $0.275 per share. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Friday, March 14th. Cadence Bank's dividend payout ratio is presently 39.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CADE shares. Citigroup boosted their price objective 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. Barclays raised Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Finally, Stephens reaffirmed an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Four research 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.50.

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.