Vaughan Nelson Investment Management L.P. Raises Position in Cadence Bank (NYSE:CADE)

Vaughan Nelson Investment Management L.P. increased its stake in shares of Cadence Bank (NYSE:CADE) by 7.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,234,733 shares of the company’s stock after acquiring an additional 151,215 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 1.23% of Cadence Bank worth $76,986,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vest Financial LLC raised its holdings in Cadence Bank by 53.9% in the fourth quarter. Vest Financial LLC now owns 71,841 shares of the company’s stock valued at $2,475,000 after acquiring an additional 25,160 shares in the last quarter. Fairvoy Private Wealth LLC acquired a new stake in shares of Cadence Bank in the 4th quarter valued at about $564,000. Keystone Financial Group Inc. bought a new position in shares of Cadence Bank during the fourth quarter worth about $31,000. Bleakley Financial Group LLC acquired a new position in Cadence Bank in the fourth quarter worth about $561,000. Finally, Choreo LLC bought a new stake in Cadence Bank in the fourth quarter valued at about $348,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. 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. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $41.00 to $44.00 in a report on Thursday, December 19th. DA Davidson raised their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Finally, Truist Financial upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Cadence Bank Stock Down 0.7 %

NYSE:CADE opened at $35.34 on Friday. The business’s 50-day moving average price is $35.39 and its 200 day moving average price is $33.83. Cadence Bank has a 52-week low of $25.27 and a 52-week high of $40.20. The firm has a market cap of $6.44 billion, a P/E ratio of 12.76 and a beta of 0.99.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) 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 in the previous year, the company earned $0.40 EPS. Sell-side analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is presently 36.10%.

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.