Charles Schwab Investment Management Inc. Has $71.42 Million Position in Cadence Bank (NYSE:CADE)

Charles Schwab Investment Management Inc. raised its stake in Cadence Bank (NYSE:CADE - Free Report) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,242,486 shares of the company's stock after purchasing an additional 105,231 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.23% of Cadence Bank worth $71,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CADE. Dimensional Fund Advisors LP increased its position in shares of Cadence Bank by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company's stock valued at $277,874,000 after purchasing an additional 593,878 shares during the period. Bank of New York Mellon Corp increased its holdings in Cadence Bank by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,088,804 shares of the company's stock valued at $59,071,000 after buying an additional 36,323 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company's stock valued at $66,360,000 after buying an additional 291,885 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Cadence Bank by 21.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company's stock worth $42,396,000 after acquiring an additional 237,748 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of Cadence Bank by 15.9% during the 3rd quarter. Natixis Advisors LLC now owns 486,122 shares of the company's stock valued at $15,483,000 after acquiring an additional 66,747 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Down 0.3 %

CADE stock traded down $0.12 during trading on Friday, hitting $38.19. The company had a trading volume of 537,796 shares, compared to its average volume of 1,322,597. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 10.97 and a beta of 0.95. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $34.36 and a 200-day moving average price of $31.43. Cadence Bank has a 12 month low of $24.74 and a 12 month high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.09. The business had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 earnings per share. As a group, analysts predict that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's dividend payout ratio is 28.74%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CADE shares. Barclays increased their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Truist Financial raised their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. DA Davidson boosted their price target on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Cadence Bank from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.29.

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.