1 week Ago By ABMN Staff
JPMorgan Chase & Co. increased its stake in shares of Cadence Bank ( NYSE:CADE – Free Report ) by 46.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission.
The institutional investor owned 604,097 shares of the company’s stock after acquiring an additional 190,981 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.
33% of Cadence Bank worth $20,811,000 at the end of the most recent quarter. Other large investors have also bought and sold shares of the company. Boston Partners bought a new position in shares of Cadence Bank in the 4th quarter worth $24,834,000.
Raymond James Financial Inc. acquired a new position in Cadence Bank during the fourth quarter worth $13,225,000. Fisher Asset Management LLC lifted its stake in shares of Cadence Bank by 19.
0% in the fourth quarter. Fisher Asset Management LLC now owns 1,655,847 shares of the company’s stock valued at $57,044,000 after buying an additional 264,691 shares in the last quarter. Vanguard Group Inc.
grew its holdings in shares of Cadence Bank by 0.9% during the fourth quarter. Vanguard Group Inc.
now owns 20,488,277 shares of the company’s stock valued at $705,821,000 after buying an additional 191,717 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Cadence Bank by 63.7% during the third quarter.
Barclays PLC now owns 441,669 shares of the company’s stock worth $14,067,000 after acquiring an additional 171,940 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades A number of research analysts have recently weighed in on the company. Barclays dropped their target price on Cadence Bank from $44.00 to $38.
00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup lifted their price objective on shares of Cadence Bank from $37.00 to $38.
00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Hovde Group lowered their target price on shares of Cadence Bank from $40.00 to $35.
00 and set a “market perform” rating for the company in a report on Wednesday, April 2nd. Stephens reissued an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd.
Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price objective 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 issued a buy rating to the company.
Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.09. Cadence Bank Trading Down 6.
5 % Cadence Bank stock opened at $26.98 on Friday. The business’s 50 day simple moving average is $31.
35 and its 200 day simple moving average is $33.73. Cadence Bank has a 12 month low of $25.
22 and a 12 month high of $40.20. The company has a market cap of $4.
92 billion, a price-to-earnings ratio of 9.74 and a beta of 0.87.
Cadence Bank ( NYSE:CADE – Get Free Report ) last issued its quarterly 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 firm posted $0.
40 EPS. As a group, equities research analysts forecast 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 was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.275 dividend.
This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th.
This represents a $1.10 annualized dividend and a dividend yield of 4.08%.
Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%. Cadence Bank Company 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. Recommended Stories 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 ).
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