Vaughan Nelson Investment Management L.P. Raises Stake in Cadence Bank (NYSE:CADE)

Vaughan Nelson Investment Management L.P. boosted its stake in Cadence Bank (NYSE:CADE) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,083,518 shares of the company’s stock after purchasing an additional 291,885 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 1.14% of Cadence Bank worth $66,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Cadence Bank in the third quarter valued at approximately $25,000. GAMMA Investing LLC increased its holdings in shares of Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after purchasing an additional 436 shares during the period. Innealta Capital LLC purchased a new stake in shares of Cadence Bank in the second quarter worth $138,000. KBC Group NV boosted its stake in Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after buying an additional 519 shares during the period. Finally, Americana Partners LLC bought a new stake in Cadence Bank during the third quarter valued at $201,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

CADE has been the subject of several recent analyst reports. Stephens reissued an “overweight” rating and set a $35.00 price objective on shares of Cadence Bank in a report on Tuesday, July 23rd. Piper Sandler downgraded Cadence Bank from an “overweight” rating to a “neutral” rating and raised their price target for the company from $33.00 to $34.00 in a research report on Wednesday, July 24th. DA Davidson raised their price objective on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays upped their target price on Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

Cadence Bank Trading Down 0.8 %

NYSE CADE opened at $37.70 on Friday. The firm has a market capitalization of $6.87 billion, a PE ratio of 10.83 and a beta of 0.95. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a twelve month low of $24.15 and a twelve month high of $39.79. The stock’s 50 day moving average is $33.14 and its 200 day moving average is $30.87.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. The firm had revenue of $447.36 million for the quarter, compared to analysts’ expectations of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. Research analysts forecast that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, December 13th. Cadence Bank’s payout ratio is 28.74%.

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.