Cadence Bank (NYSE:CADE) Shares Bought by Barclays PLC

Barclays PLC boosted its holdings in shares of Cadence Bank (NYSE:CADEFree Report) by 30.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 528,407 shares of the company’s stock after buying an additional 124,084 shares during the quarter. Barclays PLC owned 0.29% of Cadence Bank worth $11,212,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CADE. Bank of Montreal Can raised its holdings in shares of Cadence Bank by 4.4% in the 1st quarter. Bank of Montreal Can now owns 19,804 shares of the company’s stock valued at $603,000 after purchasing an additional 841 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Cadence Bank by 6.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,024 shares of the company’s stock valued at $2,020,000 after purchasing an additional 4,059 shares in the last quarter. Cibc World Market Inc. acquired a new stake in shares of Cadence Bank in the 1st quarter valued at $2,437,000. Sei Investments Co. raised its holdings in shares of Cadence Bank by 1,892.1% in the 1st quarter. Sei Investments Co. now owns 251,737 shares of the company’s stock valued at $7,370,000 after purchasing an additional 239,100 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Cadence Bank in the 1st quarter valued at $2,458,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CADE. Citigroup raised their price objective on shares of Cadence Bank from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, December 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Cadence Bank in a research note on Wednesday, January 31st. DA Davidson reiterated a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Raymond James cut their price target on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 31st. Finally, TheStreet lowered shares of Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $27.88.

Read Our Latest Research Report on CADE

Cadence Bank Stock Down 1.0 %

Shares of NYSE:CADE opened at $25.54 on Wednesday. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 8.78 and a beta of 1.02. The firm’s 50-day simple moving average is $28.47 and its 200-day simple moving average is $24.71. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. Cadence Bank has a fifty-two week low of $16.95 and a fifty-two week high of $31.45.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.25 dividend. This is an increase from Cadence Bank’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.92%. Cadence Bank’s payout ratio is presently 32.30%.

Cadence Bank Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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