19 hours Ago By ABMN Staff
Charles Schwab Investment Management Inc. raised its holdings in shares of Cadence Bank ( NYSE:CADE – Free Report ) by 0.5% during the fourth quarter, Holdings Channel.
com reports. The fund owned 2,254,795 shares of the company’s stock after buying an additional 12,309 shares during the period. Charles Schwab Investment Management Inc.
’s holdings in Cadence Bank were worth $77,678,000 at the end of the most recent reporting period. Other institutional investors and hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in shares of Cadence Bank by 0.
8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock valued at $1,284,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cadence Bank by 19.
3% during 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 in the last quarter. KBC Group NV grew its position in shares of 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. Algert Global LLC grew its position in shares of Cadence Bank by 2.
8% during the third quarter. Algert Global LLC now owns 18,920 shares of the company’s stock valued at $603,000 after purchasing an additional 522 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Cadence Bank by 1.
4% during the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after purchasing an additional 599 shares in the last quarter. 84.
61% of the stock is owned by institutional investors. Analyst Upgrades and Downgrades A number of brokerages have recently weighed in on CADE. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.
00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada restated a “sector perform” rating and set a $38.
00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Citigroup lifted their price target on Cadence Bank from $37.00 to $38.
00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd.
Finally, Keefe, Bruyette & Woods boosted their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.
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 data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $38.
50. Cadence Bank Stock Performance CADE opened at $29.15 on Tuesday.
The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 10.52 and a beta of 0.
96. The stock’s 50 day moving average price is $34.16 and its 200-day moving average price is $34.
17. Cadence Bank has a one year low of $26.16 and a one year high of $40.
20. Cadence Bank ( NYSE:CADE – Get Free Report ) last released its earnings results on Wednesday, January 22nd. The company reported $0.
70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02.
Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%.
During the same quarter in the previous year, the business earned $0.40 EPS. As a group, analysts predict that Cadence Bank will post 2.
94 earnings per share for the current fiscal year. Cadence Bank Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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.
The ex-dividend date is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.
77%. Cadence Bank’s dividend payout ratio is currently 39.71%.
Cadence Bank Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Cadence Bank ( NYSE:CADE – Free Report ). Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter .
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