MetLife Investment Management LLC Has $7.22 Million Holdings in Cadence Bank (NYSE:CADE)

MetLife Investment Management LLC grew its position in Cadence Bank (NYSE:CADE - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,589 shares of the company's stock after purchasing an additional 14,780 shares during the quarter. MetLife Investment Management LLC owned about 0.12% of Cadence Bank worth $7,220,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Cadence Bank by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company's stock valued at $705,821,000 after buying an additional 191,717 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Cadence Bank by 21.2% in the fourth quarter. First Trust Advisors LP now owns 2,634,335 shares of the company's stock valued at $90,753,000 after acquiring an additional 460,486 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Cadence Bank by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock worth $77,678,000 after acquiring an additional 12,309 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Cadence Bank by 7.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company's stock worth $76,986,000 after purchasing an additional 151,215 shares in the last quarter. Finally, Norges Bank bought a new stake in Cadence Bank in the 4th quarter valued at about $71,915,000. Institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays dropped their price target on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada reiterated a "sector perform" rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Stephens reissued an "overweight" rating and set a $40.00 target price on shares of Cadence Bank in a report on Tuesday. 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 note on Thursday, March 13th. Finally, Hovde Group reduced 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, April 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.91.

Cadence Bank Stock Up 1.2 %

Shares of CADE opened at $27.92 on Wednesday. The stock has a market cap of $5.09 billion, a PE ratio of 10.08 and a beta of 0.87. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The business has a 50-day simple moving average of $30.15 and a two-hundred day simple moving average of $33.54.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. The company had revenue of $448.55 million during the quarter, compared to the consensus estimate of $451.61 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. On average, equities research analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Company 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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