Vest Financial LLC Has $2.48 Million Stake in Cadence Bank (NYSE:CADE)

Vest Financial LLC increased its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 53.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,841 shares of the company's stock after purchasing an additional 25,160 shares during the period. Vest Financial LLC's holdings in Cadence Bank were worth $2,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Cadence Bank by 19.3% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock valued at $64,000 after purchasing an additional 301 shares during the period. KBC Group NV grew its position in Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company's stock valued at $160,000 after acquiring an additional 519 shares during the period. Algert Global LLC grew its position in Cadence Bank by 2.8% in the third quarter. Algert Global LLC now owns 18,920 shares of the company's stock valued at $603,000 after acquiring an additional 522 shares during the period. HighTower Advisors LLC grew its position in Cadence Bank by 1.4% in the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company's stock valued at $1,406,000 after acquiring an additional 599 shares during the period. Finally, Mather Group LLC. grew its position in Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company's stock valued at $28,000 after acquiring an additional 709 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Performance

NYSE:CADE traded down $0.84 during mid-day trading on Wednesday, hitting $34.75. The company had a trading volume of 686,888 shares, compared to its average volume of 1,173,567. Cadence Bank has a fifty-two week low of $25.55 and a fifty-two week high of $40.20. The business's fifty day moving average is $35.23 and its two-hundred day moving average is $33.87. The firm has a market cap of $6.33 billion, a P/E ratio of 12.55 and a beta of 0.99.

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, beating the consensus estimate 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 period last year, the business earned $0.40 EPS. Equities analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.275 dividend. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank's dividend payout ratio is 36.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CADE shares. Barclays upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Citigroup upped their price target on Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Stephens reiterated an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. DA Davidson upped their price target on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.