Great Lakes Advisors LLC Sells 14,151 Shares of Cadence Bank (NYSE:CADE)

Great Lakes Advisors LLC reduced its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 214,235 shares of the company's stock after selling 14,151 shares during the period. Great Lakes Advisors LLC owned about 0.12% of Cadence Bank worth $7,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CADE. FMR LLC lifted its stake in Cadence Bank by 1.2% during the third quarter. FMR LLC now owns 16,423,050 shares of the company's stock worth $523,074,000 after purchasing an additional 195,773 shares during the period. State Street Corp lifted its position in shares of Cadence Bank by 1.9% during the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company's stock worth $284,759,000 after buying an additional 165,282 shares during the period. Geode Capital Management LLC boosted its stake in Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock valued at $138,974,000 after buying an additional 39,679 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Cadence Bank by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock valued at $77,678,000 after acquiring an additional 12,309 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Cadence Bank by 7.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company's stock worth $76,986,000 after acquiring an additional 151,215 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Down 0.3 %

CADE stock opened at $29.35 on Friday. The company has a market cap of $5.35 billion, a P/E ratio of 10.59 and a beta of 0.96. Cadence Bank has a twelve month low of $26.16 and a twelve month high of $40.20. The business has a fifty day moving average of $33.96 and a 200-day moving average of $34.12.

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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 (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the firm earned $0.40 EPS. As a group, equities research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.75%. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio (DPR) is 39.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CADE. Citigroup boosted their target price 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. 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. Morgan Stanley cut their target price on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday. Barclays upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.77.

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.

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