Segall Bryant & Hamill LLC boosted its holdings in Cadence Bank (NYSE:CADE - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,341,868 shares of the company's stock after purchasing an additional 10,756 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.74% of Cadence Bank worth $46,227,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Cadence Bank by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company's stock worth $705,821,000 after acquiring an additional 191,717 shares during the period. FMR LLC boosted its stake in Cadence Bank by 1.2% during the third quarter. FMR LLC now owns 16,423,050 shares of the company's stock valued at $523,074,000 after buying an additional 195,773 shares in the last quarter. State Street Corp grew its stake in shares of Cadence Bank by 1.9% in the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company's stock worth $284,759,000 after purchasing an additional 165,282 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock valued at $138,974,000 after buying an additional 39,679 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 purchasing an additional 12,309 shares during the period. Institutional investors own 84.61% of the company's stock.
Cadence Bank Stock Down 2.7 %
Shares of CADE traded down $0.84 during midday trading on Friday, reaching $29.93. 331,854 shares of the stock were exchanged, compared to its average volume of 1,238,450. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 10.80 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 has a 50 day simple moving average of $33.03 and a 200-day simple moving average of $33.99.
Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share 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 quarter last year, the firm earned $0.40 EPS. Research analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.
Cadence Bank Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's payout ratio is presently 39.71%.
Wall Street Analyst Weigh In
A number of research firms have commented on CADE. Barclays raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Stephens reissued an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Citigroup raised their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $38.77.
View Our Latest Research Report on CADE
Cadence Bank Profile
(
Free Report)
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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