Cadence Bank $CADE Stock Position Raised by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cadence Bank (NYSE:CADE) by 10.9% in the first quarter, Holdings Channel reports. The firm owned 174,743 shares of the company’s stock after buying an additional 17,124 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Cadence Bank were worth $5,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CADE. Wellington Management Group LLP raised its stake in shares of Cadence Bank by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company’s stock worth $409,301,000 after purchasing an additional 980,369 shares in the last quarter. Millennium Management LLC raised its stake in shares of Cadence Bank by 846.1% during the 4th quarter. Millennium Management LLC now owns 1,052,906 shares of the company’s stock worth $36,273,000 after purchasing an additional 941,613 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Cadence Bank by 1,802.4% during the 1st quarter. AQR Capital Management LLC now owns 764,776 shares of the company’s stock worth $22,790,000 after purchasing an additional 724,576 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Cadence Bank during the 1st quarter worth about $20,090,000. Finally, Bessemer Group Inc. raised its stake in shares of Cadence Bank by 76,386.7% during the 1st quarter. Bessemer Group Inc. now owns 615,718 shares of the company’s stock worth $18,694,000 after purchasing an additional 614,913 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CADE shares. Hovde Group raised their price objective on Cadence Bank from $34.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, July 28th. Royal Bank Of Canada lifted their price target on shares of Cadence Bank from $34.00 to $37.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price target on shares of Cadence Bank from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. DA Davidson lifted their price target on shares of Cadence Bank from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Barclays reissued an “overweight” rating and issued a $41.00 price target (up previously from $38.00) on shares of Cadence Bank in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.40.

Cadence Bank Stock Up 0.2%

Shares of CADE stock opened at $37.35 on Friday. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.20. The firm has a market cap of $6.81 billion, a PE ratio of 13.29 and a beta of 0.91. The stock has a 50 day moving average of $35.83 and a 200-day moving average of $32.17. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.The company had revenue of $476.32 million during the quarter, compared to analyst estimates of $467.60 million. During the same period in the previous year, the company earned $0.73 earnings per share. On average, equities analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, September 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.9%. Cadence Bank’s payout ratio is 39.15%.

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.