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

Natixis Advisors L.P. raised its position in Cadence Bank (NYSE:CADE) by 38.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 292,530 shares of the company’s stock after purchasing an additional 81,948 shares during the period. Natixis Advisors L.P. owned about 0.16% of Cadence Bank worth $8,655,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after purchasing an additional 905 shares in the last quarter. Wolverine Asset Management LLC increased its stake in Cadence Bank by 952.0% in the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 952 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Cadence Bank by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after buying an additional 524 shares during the period. Hardy Reed LLC purchased a new position in shares of Cadence Bank during the 3rd quarter worth about $203,000. Finally, Moody Lynn & Lieberson LLC acquired a new stake in shares of Cadence Bank in the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CADE shares. Hovde Group upgraded shares of Cadence Bank from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $32.50 to $33.00 in a report on Wednesday, April 24th. Morgan Stanley raised their price objective on Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 target price on shares of Cadence Bank in a research report on Tuesday, April 9th. Barclays boosted their price objective on shares of Cadence Bank from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.09.

Cadence Bank Trading Up 0.1 %

NYSE CADE opened at $29.21 on Thursday. The company’s fifty day moving average price is $27.96 and its two-hundred day moving average price is $27.07. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 9.33 and a beta of 1.01. Cadence Bank has a 12 month low of $17.38 and a 12 month high of $31.45. 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 (NYSE:CADE) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. Cadence Bank’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, research analysts predict that Cadence Bank will post 2.48 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

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

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.