Cadence Bank (NYSE:CADE) Shares Purchased by US Bancorp DE

US Bancorp DE grew its position in shares of Cadence Bank (NYSE:CADE) by 8.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,839 shares of the company’s stock after acquiring an additional 1,781 shares during the period. US Bancorp DE’s holdings in Cadence Bank were worth $727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Cadence Bank by 4.9% in the 1st 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 period. Dimensional Fund Advisors LP raised its position in Cadence Bank by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock valued at $277,874,000 after purchasing an additional 593,878 shares during the period. Bank of New York Mellon Corp raised its position in Cadence Bank by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 2,088,804 shares of the company’s stock valued at $59,071,000 after purchasing an additional 36,323 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Cadence Bank by 1.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,791,633 shares of the company’s stock worth $50,667,000 after purchasing an additional 31,815 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of Cadence Bank by 8.0% in the second quarter. Natixis Advisors LLC now owns 419,375 shares of the company’s stock worth $11,860,000 after buying an additional 30,945 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Stock Performance

Shares of CADE stock opened at $37.90 on Friday. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 10.89 and a beta of 0.95. Cadence Bank has a one year low of $21.47 and a one year high of $38.77. The company’s 50-day simple moving average is $32.45 and its 200-day simple moving average is $30.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

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

Cadence Bank Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.64%. Cadence Bank’s payout ratio is 28.74%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. DA Davidson boosted their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Stephens restated an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research note on Tuesday, July 23rd. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, Hovde Group boosted their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.29.

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.