14,669 Shares in Cadence Bank (NYSE:CADE) Bought by Premier Fund Managers Ltd

Premier Fund Managers Ltd acquired a new stake in shares of Cadence Bank (NYSE:CADE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,669 shares of the company's stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CADE. Geode Capital Management LLC grew its position in shares of Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock worth $138,974,000 after buying an additional 39,679 shares in the last quarter. Cerity Partners LLC lifted its stake in Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company's stock worth $2,050,000 after acquiring an additional 15,312 shares during the period. Stifel Financial Corp grew its holdings in Cadence Bank by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company's stock worth $670,000 after acquiring an additional 3,218 shares in the last quarter. Victory Capital Management Inc. increased its position in Cadence Bank by 1.4% during 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 period. Finally, Franklin Resources Inc. bought a new stake in shares of Cadence Bank in the 3rd quarter valued at about $947,000. Institutional investors own 84.61% of the company's stock.

Cadence Bank Trading Down 0.3 %

Shares of NYSE CADE traded down $0.10 during trading on Wednesday, reaching $30.31. 246,165 shares of the company traded hands, compared to its average volume of 1,195,399. The stock has a market cap of $5.52 billion, a P/E ratio of 10.94 and a beta of 0.96. Cadence Bank has a 12-month low of $26.16 and a 12-month high of $40.20. The firm's fifty day simple moving average is $32.71 and its 200 day simple moving average is $34.03.

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Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping 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 period last year, the firm posted $0.40 EPS. As a group, research analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

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

Analyst Upgrades and Downgrades

CADE has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Stephens restated an "overweight" rating and set a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Hovde Group cut their target price on Cadence Bank from $40.00 to $35.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, Citigroup increased their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cadence Bank has a consensus rating of "Moderate Buy" and a consensus price target of $38.64.

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.