Cadence Bank (NYSE:CADE) Holdings Trimmed by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P reduced its position in Cadence Bank (NYSE:CADE - Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 403,676 shares of the company's stock after selling 17,009 shares during the period. Loomis Sayles & Co. L P owned 0.22% of Cadence Bank worth $13,907,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CADE. Geode Capital Management LLC increased its stake in Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock valued at $138,974,000 after purchasing an additional 39,679 shares during the period. Cerity Partners LLC grew its holdings in shares of Cadence Bank by 31.2% during the third quarter. Cerity Partners LLC now owns 64,377 shares of the company's stock worth $2,050,000 after buying an additional 15,312 shares during the last quarter. Stifel Financial Corp raised its stake in Cadence Bank by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company's stock valued at $670,000 after acquiring an additional 3,218 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Cadence Bank by 1.4% in the 4th quarter. Victory Capital Management Inc. now owns 50,453 shares of the company's stock valued at $1,738,000 after purchasing an additional 685 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Cadence Bank in the 3rd quarter valued at approximately $947,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CADE has been the topic of several research analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Morgan Stanley dropped their price target on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Hovde Group lowered their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating on the stock in a research note on Wednesday. Barclays raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Finally, Citigroup upped their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.64.

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Cadence Bank Price Performance

CADE traded down $0.14 on Wednesday, reaching $30.27. The company's stock had a trading volume of 225,279 shares, compared to its average volume of 1,238,225. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20. The business's 50 day moving average is $32.71 and its 200 day moving average is $34.03. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 10.95 and a beta of 0.96.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $0.40 earnings per share. As a group, research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.63%. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's payout ratio is presently 39.71%.

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.