Cadence Bank (NYSE:CADE) Position Increased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. increased its holdings in Cadence Bank (NYSE:CADE - Free Report) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,083,518 shares of the company's stock after purchasing an additional 291,885 shares during the period. Vaughan Nelson Investment Management L.P. owned 1.14% of Cadence Bank worth $66,360,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Cadence Bank by 139.8% during the first quarter. SG Americas Securities LLC now owns 20,666 shares of the company's stock worth $599,000 after purchasing an additional 12,047 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Cadence Bank by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 230,377 shares of the company's stock worth $6,681,000 after buying an additional 689 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Cadence Bank by 32.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 68,892 shares of the company's stock worth $1,998,000 after buying an additional 16,850 shares during the period. Vanguard Group Inc. boosted its holdings in Cadence Bank by 4.9% in the first quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company's stock valued at $587,867,000 after acquiring an additional 940,895 shares during the last quarter. Finally, Keeley Teton Advisors LLC grew its position in Cadence Bank by 2.7% during the first quarter. Keeley Teton Advisors LLC now owns 237,291 shares of the company's stock valued at $6,881,000 after acquiring an additional 6,328 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson lifted their price objective on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 23rd. Truist Financial lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Barclays upped their price target on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley raised Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.29.

Cadence Bank Stock Down 0.8 %

Shares of Cadence Bank stock traded down $0.32 on Friday, hitting $37.70. 1,541,307 shares of the company's stock traded hands, compared to its average volume of 1,498,679. Cadence Bank has a 52-week low of $24.15 and a 52-week high of $39.79. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.87 billion, a P/E ratio of 10.83 and a beta of 0.95. The firm's 50-day moving average is $33.14 and its 200 day moving average is $30.87.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.09. The firm had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The firm's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. Equities analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, December 13th. Cadence Bank's payout ratio is currently 28.74%.

About Cadence Bank

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.