Ranger Investment Management L.P. Has $20.04 Million Stock Position in Cadence Bank (NYSE:CADE)

Ranger Investment Management L.P. lessened its holdings in Cadence Bank (NYSE:CADE - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 581,749 shares of the company's stock after selling 10,700 shares during the period. Ranger Investment Management L.P. owned 0.32% of Cadence Bank worth $20,041,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CADE. Norges Bank bought a new stake in shares of Cadence Bank during the 4th quarter worth about $71,915,000. Boston Partners acquired a new position in shares of Cadence Bank in the fourth quarter valued at $24,834,000. Raymond James Financial Inc. acquired a new stake in Cadence Bank in the 4th quarter valued at $13,225,000. Fisher Asset Management LLC grew its stake in Cadence Bank by 19.0% during the fourth quarter. Fisher Asset Management LLC now owns 1,655,847 shares of the company's stock worth $57,044,000 after buying an additional 264,691 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of 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 buying an additional 191,717 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CADE shares. Stephens reiterated an "overweight" rating and issued a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Morgan Stanley cut their target price on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada restated a "sector perform" rating and issued a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Citigroup increased their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, Hovde Group reduced their target price on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating for the company in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.09.

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Cadence Bank Price Performance

NYSE CADE traded down $0.44 on Monday, hitting $26.76. 448,983 shares of the stock were exchanged, compared to its average volume of 1,261,836. The company has a market capitalization of $4.88 billion, a PE ratio of 9.66 and a beta of 0.87. The business's fifty day moving average is $31.19 and its 200 day moving average is $33.71. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company posted $0.40 earnings per share. Analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.275 per share. This is an increase 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 annualized dividend and a yield of 4.11%. Cadence Bank's dividend payout ratio (DPR) is currently 39.71%.

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.