Natixis Advisors L.P. Increases Stake in Cadence Bank (NYSE:CADE)

Natixis Advisors L.P. grew its holdings in shares of Cadence Bank (NYSE:CADEFree Report) by 38.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 292,530 shares of the company’s stock after buying an additional 81,948 shares during the period. Natixis Advisors L.P.’s holdings in Cadence Bank were worth $8,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barclays PLC boosted its position in shares of Cadence Bank by 30.7% during the 3rd quarter. Barclays PLC now owns 528,407 shares of the company’s stock valued at $11,212,000 after acquiring an additional 124,084 shares during the last quarter. Comerica Bank purchased a new stake in Cadence Bank during the third quarter valued at about $5,177,000. American Century Companies Inc. raised its position in Cadence Bank by 35.7% during the third quarter. American Century Companies Inc. now owns 1,258,097 shares of the company’s stock valued at $26,697,000 after purchasing an additional 331,097 shares in the last quarter. Wellington Management Group LLP lifted its stake in Cadence Bank by 15.7% during the third quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company’s stock worth $166,110,000 after purchasing an additional 1,063,055 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Cadence Bank by 49.4% in the 4th quarter. New York State Common Retirement Fund now owns 112,255 shares of the company’s stock worth $3,322,000 after purchasing an additional 37,129 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 target price on shares of Cadence Bank in a research report on Tuesday, April 9th. Hovde Group upgraded shares of Cadence Bank from a “market perform” rating to an “outperform” rating and upped their price target for the company from $32.50 to $33.00 in a research report on Wednesday, April 24th. Finally, Truist Financial lifted their price objective on Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cadence Bank currently has an average rating of “Moderate Buy” and a consensus target price of $31.09.

Read Our Latest Report on CADE

Cadence Bank Stock Performance

CADE stock opened at $29.21 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. Cadence Bank has a 1-year low of $17.38 and a 1-year high of $31.45. The business has a 50-day moving average price of $27.96 and a 200 day moving average price of $27.07. The company has a market capitalization of $5.34 billion, a P/E ratio of 9.33 and a beta of 1.01.

Cadence Bank (NYSE:CADEGet Free Report) last released its quarterly earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The firm had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. During the same period in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Cadence Bank will post 2.48 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, June 14th. Cadence Bank’s dividend payout ratio is presently 31.95%.

Cadence Bank Company 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.

See Also

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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