Vanguard Personalized Indexing Management LLC Takes $532,000 Position in Cadence Bank (NYSE:CADE)

Vanguard Personalized Indexing Management LLC bought a new position in Cadence Bank (NYSE:CADE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,972 shares of the company’s stock, valued at approximately $532,000.

Several other hedge funds have also modified their holdings of CADE. Fifth Third Bancorp raised its position in shares of Cadence Bank by 165.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock worth $31,000 after purchasing an additional 905 shares during the period. Wolverine Asset Management LLC grew its holdings in Cadence Bank by 952.0% during the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock worth $31,000 after acquiring an additional 952 shares during the period. Allspring Global Investments Holdings LLC raised its position in Cadence Bank by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock worth $142,000 after acquiring an additional 524 shares in the last quarter. Hardy Reed LLC acquired a new stake in Cadence Bank in the 3rd quarter valued at about $203,000. Finally, Moody Lynn & Lieberson LLC bought a new position in shares of Cadence Bank during the 4th quarter valued at about $205,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $28.27 on Friday. The stock has a market capitalization of $5.15 billion, a PE ratio of 9.03 and a beta of 1.01. Cadence Bank has a fifty-two week low of $17.76 and a fifty-two week high of $31.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $28.28 and a two-hundred day moving average price of $27.66.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $437.69 million during the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. Cadence Bank’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 EPS. As a group, equities analysts predict that Cadence Bank will post 2.48 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.54%. Cadence Bank’s dividend payout ratio (DPR) is presently 31.95%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CADE shares. Barclays increased their target price on shares of Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Raymond James decreased their target price on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 31st. Hovde Group upgraded Cadence Bank from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $32.50 to $33.00 in a report on Wednesday, April 24th. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a research report on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and an average price target 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.