7,248 Shares in Cadence Bank (NYSE:CADE) Bought by Schroder Investment Management Group

Schroder Investment Management Group bought a new stake in shares of Cadence Bank (NYSE:CADE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,248 shares of the company’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of Cadence Bank by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock valued at $1,284,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Cadence Bank by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after purchasing an additional 301 shares during the period. Ironwood Investment Management LLC lifted its stake in shares of Cadence Bank by 1.2% in the fourth quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company’s stock worth $1,039,000 after buying an additional 354 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Cadence Bank by 0.8% during the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company’s stock worth $1,827,000 after buying an additional 415 shares during the period. Finally, HighTower Advisors LLC grew its stake in Cadence Bank by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after buying an additional 599 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CADE. Morgan Stanley decreased their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Hovde Group decreased their target price on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, April 2nd. Barclays dropped their price target on Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup increased their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cadence Bank presently has a consensus rating of “Moderate Buy” and an average target price of $38.09.

Cadence Bank Price Performance

Shares of Cadence Bank stock opened at $26.28 on Wednesday. The company’s fifty day moving average price is $31.75 and its two-hundred day moving average price is $33.81. The firm has a market capitalization of $4.79 billion, a PE ratio of 9.49 and a beta of 0.87. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating 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 period in the previous year, the company earned $0.40 EPS. Analysts predict that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was 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%.

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.