American Century Companies Inc. Sells 46,095 Shares of Cadence Bank $CADE

American Century Companies Inc. cut its holdings in shares of Cadence Bank (NYSE:CADE) by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 114,640 shares of the company’s stock after selling 46,095 shares during the period. American Century Companies Inc. owned 0.06% of Cadence Bank worth $3,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in Cadence Bank by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,684,312 shares of the company’s stock valued at $92,475,000 after purchasing an additional 350,660 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cadence Bank by 8.1% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,416,198 shares of the company’s stock valued at $73,356,000 after purchasing an additional 181,465 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Cadence Bank by 2.1% during the first quarter. Segall Bryant & Hamill LLC now owns 1,370,231 shares of the company’s stock valued at $41,600,000 after buying an additional 28,363 shares during the period. Millennium Management LLC increased its position in shares of Cadence Bank by 846.1% during the fourth quarter. Millennium Management LLC now owns 1,052,906 shares of the company’s stock valued at $36,273,000 after buying an additional 941,613 shares during the period. Finally, Nuveen LLC bought a new position in Cadence Bank in the first quarter worth about $20,090,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Up 0.3%

CADE stock opened at $37.65 on Friday. The business has a 50 day moving average of $34.91 and a 200 day moving average of $31.94. The firm has a market cap of $6.86 billion, a PE ratio of 13.40 and a beta of 0.89. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.The firm had revenue of $476.32 million for the quarter, compared to analysts’ expectations of $467.60 million. During the same period in the prior year, the firm posted $0.73 earnings per share. On average, research analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Cadence Bank’s dividend payout ratio is 39.15%.

Analyst Ratings Changes

CADE has been the topic of several research reports. Piper Sandler lifted their price objective on Cadence Bank from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Royal Bank Of Canada lifted their price target on Cadence Bank from $34.00 to $37.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. DA Davidson upped their price target on Cadence Bank from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Barclays reissued an “overweight” rating and set a $41.00 price objective (up previously from $38.00) on shares of Cadence Bank in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Cadence Bank from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.40.

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.