Prudential PLC Acquires Shares of 15,819 Cadence Bank (NYSE:CADE)

Prudential PLC bought a new position in Cadence Bank (NYSE:CADE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,819 shares of the company's stock, valued at approximately $545,000.

A number of other hedge funds also recently bought and sold shares of CADE. Oregon Public Employees Retirement Fund boosted its stake in shares of Cadence Bank by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company's stock valued at $1,284,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its position in Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock valued at $64,000 after acquiring an additional 301 shares in the last quarter. Ironwood Investment Management LLC grew its holdings in shares of 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 acquiring an additional 354 shares during the period. Arizona State Retirement System raised its position in shares of Cadence Bank by 0.8% in the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company's stock worth $1,827,000 after acquiring an additional 415 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Cadence Bank by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company's stock valued at $1,406,000 after purchasing an additional 599 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Cadence Bank Trading Up 0.3 %

CADE traded up $0.08 during trading hours on Monday, hitting $27.28. The company's stock had a trading volume of 129,824 shares, compared to its average volume of 1,260,133. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.20. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 9.85 and a beta of 0.87. The business's 50-day moving average price is $31.19 and its 200-day moving average price is $33.71.

Cadence Bank (NYSE:CADE - Get Free Report) last announced 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 net margin of 18.03% and a return on equity of 9.87%. During the same period in the prior year, the business posted $0.40 earnings per share. On average, analysts forecast that Cadence Bank will post 2.94 earnings per share 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 dividend of $0.275 per share. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.03%. Cadence Bank's payout ratio is 39.71%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CADE. Hovde Group reduced their price target on 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. Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Barclays decreased their price objective 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. Citigroup lifted their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, Stephens restated an "overweight" rating and set a $42.00 price target on shares of Cadence Bank in a research note 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.