Intech Investment Management LLC Purchases 35,368 Shares of Cadence Bank (NYSE:CADE)

Intech Investment Management LLC raised its holdings in Cadence Bank (NYSE:CADE - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,820 shares of the company's stock after buying an additional 35,368 shares during the quarter. Intech Investment Management LLC owned 0.05% of Cadence Bank worth $3,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cibc World Markets Corp bought a new position in shares of Cadence Bank during the 4th quarter worth about $587,000. Ironwood Investment Management LLC raised its stake in Cadence Bank by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock worth $1,039,000 after buying an additional 354 shares during the period. Swiss National Bank boosted its holdings in Cadence Bank by 0.8% in the fourth quarter. Swiss National Bank now owns 359,453 shares of the company's stock worth $12,383,000 after acquiring an additional 2,700 shares in the last quarter. HighTower Advisors LLC grew its stake in Cadence Bank by 3.0% in the fourth quarter. HighTower Advisors LLC now owns 45,265 shares of the company's stock valued at $1,559,000 after acquiring an additional 1,325 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in Cadence Bank in the fourth quarter valued at approximately $204,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CADE shares. Morgan Stanley cut their target price on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Keefe, Bruyette & Woods raised their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Barclays upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Royal Bank of Canada restated a "sector perform" rating and issued a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Finally, Stephens reiterated an "overweight" rating and set a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Cadence Bank has an average rating of "Moderate Buy" and a consensus target price of $38.77.

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Cadence Bank Trading Up 3.5 %

Shares of CADE traded up $1.06 on Monday, reaching $31.38. 1,575,889 shares of the company's stock traded hands, compared to its average volume of 1,182,392. The stock's 50 day simple moving average is $33.34 and its two-hundred day simple moving average is $34.03. The stock has a market cap of $5.72 billion, a PE ratio of 11.33 and a beta of 0.96. Cadence Bank has a 52-week low of $26.16 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $0.40 earnings per share. Analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 14th. 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 3.51%. Cadence Bank's payout ratio is presently 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.