Boston Partners Acquires New Position in Cadence Bank (NYSE:CADE)

Boston Partners acquired a new stake in shares of Cadence Bank (NYSE:CADE) during the fourth quarter, Holdings Channel.com reports. The fund acquired 716,683 shares of the company’s stock, valued at approximately $24,834,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CADE. KBC Group NV grew its position 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 purchasing an additional 519 shares in the last quarter. Natixis Advisors LLC grew its position in Cadence Bank by 15.9% during the third quarter. Natixis Advisors LLC now owns 486,122 shares of the company’s stock valued at $15,483,000 after purchasing an additional 66,747 shares in the last quarter. MAI Capital Management grew its position in Cadence Bank by 132.9% during the third quarter. MAI Capital Management now owns 41,685 shares of the company’s stock valued at $1,328,000 after purchasing an additional 23,790 shares in the last quarter. Quest Partners LLC lifted its stake in Cadence Bank by 390,500.0% in the third quarter. Quest Partners LLC now owns 7,812 shares of the company’s stock valued at $249,000 after acquiring an additional 7,810 shares during the last quarter. Finally, LMR Partners LLP acquired a new stake in Cadence Bank in the third quarter valued at approximately $212,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CADE. Citigroup lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Morgan Stanley reduced their target price on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lifted their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Cadence Bank Trading Up 1.3 %

Shares of Cadence Bank stock opened at $30.66 on Thursday. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 11.07 and a beta of 0.96. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20. The firm has a fifty day simple moving average of $33.51 and a 200-day simple moving average of $34.04.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $0.40 earnings per share. As a group, research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.275 per share. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.59%. The ex-dividend date is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 39.71%.

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.