Rhumbline Advisers Has $21.50 Million Position in Cadence Bank (NYSE:CADE)

Rhumbline Advisers boosted its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 624,177 shares of the company's stock after purchasing an additional 13,507 shares during the period. Rhumbline Advisers owned 0.34% of Cadence Bank worth $21,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake 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 purchasing an additional 39,679 shares in the last quarter. Cerity Partners LLC increased its holdings 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 buying an additional 15,312 shares during the last quarter. Stifel Financial Corp raised its position in Cadence Bank by 18.1% during the third 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 in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company's stock valued at $66,360,000 after acquiring an additional 291,885 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in Cadence Bank in the third quarter worth approximately $947,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Cadence Bank Price Performance

CADE stock traded up $0.04 on Monday, reaching $33.08. 185,876 shares of the company were exchanged, compared to its average volume of 1,147,642. The firm has a market capitalization of $6.03 billion, a PE ratio of 11.95 and a beta of 0.99. The stock's fifty day moving average price is $34.83 and its 200 day moving average price is $34.06. Cadence Bank has a 12 month low of $26.16 and a 12 month high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last released its 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 return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, research analysts expect that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.33%. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank's payout ratio is presently 39.71%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CADE. Barclays upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Citigroup raised their target price on Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Stephens reiterated an "overweight" rating and set a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cadence Bank presently has an average rating of "Moderate Buy" and an average price target of $38.50.

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.