Cramer Rosenthal Mcglynn LLC Has $21.01 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Cramer Rosenthal Mcglynn LLC cut its stake in Cadence Bank (NYSE:CADE - Free Report) by 33.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 609,856 shares of the company's stock after selling 302,132 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 0.33% of Cadence Bank worth $21,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings 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 worth $1,284,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Cadence Bank by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock worth $64,000 after purchasing an additional 301 shares in the last quarter. Ironwood Investment Management LLC raised its holdings in Cadence Bank by 1.2% during the fourth quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock valued at $1,039,000 after buying an additional 354 shares in the last quarter. Arizona State Retirement System lifted its holdings in Cadence Bank by 0.8% in the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company's stock worth $1,827,000 after purchasing an additional 415 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its holdings in shares of Cadence Bank by 2.4% during the 4th quarter. Sit Investment Associates Inc. now owns 25,750 shares of the company's stock worth $887,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Trading Down 1.0 %

Shares of Cadence Bank stock traded down $0.27 during trading on Monday, reaching $27.64. The company's stock had a trading volume of 1,592,513 shares, compared to its average volume of 1,270,531. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The stock has a 50-day moving average price of $30.44 and a two-hundred day moving average price of $33.60. The stock has a market capitalization of $5.04 billion, a P/E ratio of 9.98 and a beta of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. As a group, sell-side analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.98%. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 14th. Cadence Bank's dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CADE. Stephens reiterated an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Citigroup boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Hovde Group lowered their price target on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating on the stock in a report on Wednesday, April 2nd. Barclays reduced their price objective on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Five 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, Cadence Bank has a consensus rating of "Moderate Buy" and an average price target 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.