Mitsubishi UFJ Asset Management Co. Ltd. Has $453,000 Stock Holdings in Cadence Bank (NYSE:CADE)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of Cadence Bank (NYSE:CADE) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,015 shares of the company’s stock after selling 2,560 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cadence Bank were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Cadence Bank by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 19,172,865 shares of the company’s stock valued at $406,848,000 after purchasing an additional 69,805 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cadence Bank by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock valued at $273,421,000 after buying an additional 376,989 shares during the last quarter. Wellington Management Group LLP increased its holdings in Cadence Bank by 15.7% in the third quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company’s stock worth $166,110,000 after buying an additional 1,063,055 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Cadence Bank by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,017,359 shares of the company’s stock valued at $59,694,000 after acquiring an additional 77,563 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Cadence Bank by 81.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,532,423 shares of the company’s stock valued at $45,344,000 after acquiring an additional 687,025 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Cadence Bank Stock Performance

CADE opened at $28.70 on Thursday. The stock’s 50 day simple moving average is $28.23 and its 200-day simple moving average is $27.63. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $5.23 billion, a PE ratio of 9.17 and a beta of 1.01. Cadence Bank has a 1 year low of $17.76 and a 1 year high of $31.45.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Sell-side analysts forecast that Cadence Bank will post 2.48 EPS for the current year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, June 14th. Cadence Bank’s dividend payout ratio (DPR) is presently 31.95%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TheStreet downgraded shares of Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Raymond James reduced their target price on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 31st. Morgan Stanley boosted their price objective on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Truist Financial boosted their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Barclays boosted their price objective on Cadence Bank from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.09.

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.