Invesco Ltd. Sells 29,150 Shares of Cadence Bank (NYSE:CADE)

Invesco Ltd. cut its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 439,046 shares of the company's stock after selling 29,150 shares during the quarter. Invesco Ltd. owned 0.24% of Cadence Bank worth $15,125,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Cadence Bank by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company's stock valued at $705,821,000 after purchasing an additional 191,717 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cadence Bank by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock valued at $77,678,000 after buying an additional 12,309 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings 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 buying an additional 151,215 shares during the last quarter. Norges Bank acquired a new position in Cadence Bank during the fourth quarter worth $71,915,000. Finally, Bank of New York Mellon Corp raised its position in Cadence Bank by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,836,594 shares of the company's stock worth $63,271,000 after acquiring an additional 62,026 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Price Performance

Cadence Bank stock opened at $27.84 on Monday. The firm has a market cap of $5.07 billion, a PE ratio of 10.05 and a beta of 0.87. The stock's fifty day moving average price is $30.44 and its two-hundred day moving average price is $33.60. Cadence Bank has a one year low of $25.22 and a one year high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the firm earned $0.40 earnings per share. Sell-side analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.275 per share. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.95%. Cadence Bank's dividend payout ratio (DPR) is currently 39.71%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CADE. Morgan Stanley lowered their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Citigroup lifted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Royal Bank of Canada reissued a "sector perform" rating and issued a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Barclays reduced their target price 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, Stephens reissued an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cadence Bank presently has an average rating of "Moderate Buy" and an average target price of $38.09.

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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