United Services Automobile Association Has $406,000 Stock Holdings in Cadence Bank (NYSE:CADE)

United Services Automobile Association lowered its stake in shares of Cadence Bank (NYSE:CADE) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,791 shares of the company’s stock after selling 733 shares during the period. United Services Automobile Association’s holdings in Cadence Bank were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CADE. Quest Partners LLC raised its stake in Cadence Bank by 390,500.0% during the 3rd quarter. Quest Partners LLC now owns 7,812 shares of the company’s stock worth $249,000 after buying an additional 7,810 shares during the period. Intech Investment Management LLC raised its position in shares of Cadence Bank by 224.3% during the third quarter. Intech Investment Management LLC now owns 56,452 shares of the company’s stock worth $1,798,000 after purchasing an additional 39,044 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cadence Bank by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock worth $71,423,000 after purchasing an additional 105,231 shares in the last quarter. Citigroup Inc. grew its position in Cadence Bank by 14.5% in the 3rd quarter. Citigroup Inc. now owns 296,511 shares of the company’s stock valued at $9,444,000 after purchasing an additional 37,586 shares during the period. Finally, Cerity Partners LLC increased its stake in Cadence Bank by 31.2% during the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after purchasing an additional 15,312 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CADE. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Morgan Stanley cut their target price on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup increased their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Cadence Bank Price Performance

Shares of Cadence Bank stock opened at $31.38 on Tuesday. The firm has a market cap of $5.72 billion, a PE ratio of 11.33 and a beta of 0.96. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20. The stock has a fifty day moving average price of $33.29 and a 200-day moving average price of $34.03.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, equities analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is 39.71%.

Cadence Bank 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.