Cadence Bank (NYSE:CADE) Stock Position Raised by RFG Advisory LLC

RFG Advisory LLC lifted its stake in shares of Cadence Bank (NYSE:CADE) by 336.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,930 shares of the company’s stock after purchasing an additional 30,014 shares during the period. RFG Advisory LLC’s holdings in Cadence Bank were worth $1,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its holdings in Cadence Bank by 1.2% during the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock worth $523,074,000 after buying an additional 195,773 shares during the period. State Street Corp raised its holdings in shares of Cadence Bank by 1.9% during the third quarter. State Street Corp now owns 8,872,085 shares of the company’s stock valued at $284,759,000 after acquiring an additional 165,282 shares during the period. Geode Capital Management LLC lifted its position in shares of Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after acquiring an additional 39,679 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in Cadence Bank by 16.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after purchasing an additional 291,885 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Trading Up 2.6 %

Shares of NYSE:CADE opened at $35.13 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $6.40 billion, a PE ratio of 12.68 and a beta of 1.00. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The firm has a fifty day moving average price of $35.98 and a 200 day moving average price of $33.56.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.98% and a net margin of 18.03%. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Analysts expect that Cadence Bank will post 2.87 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. 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 3.13%. 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 dividend payout ratio (DPR) is 39.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CADE shares. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday. Keefe, Bruyette & Woods raised their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson upped their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.14.

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.