Vaughan Nelson Investment Management L.P. Acquires 291,885 Shares of Cadence Bank (NYSE:CADE)

Vaughan Nelson Investment Management L.P. grew its holdings in Cadence Bank (NYSE:CADE) by 16.3% in the third quarter, Holdings Channel reports. The firm owned 2,083,518 shares of the company’s stock after buying an additional 291,885 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Cadence Bank were worth $66,360,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in Cadence Bank during the 3rd quarter valued at about $25,000. GAMMA Investing LLC raised its holdings in shares of Cadence Bank by 77.0% during the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after purchasing an additional 436 shares during the last quarter. Innealta Capital LLC bought a new position in Cadence Bank during the second quarter valued at approximately $138,000. KBC Group NV boosted its holdings in Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares during the last quarter. Finally, Americana Partners LLC bought a new stake in Cadence Bank in the 3rd quarter worth approximately $201,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CADE has been the topic of a number of research reports. Piper Sandler downgraded Cadence Bank from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $33.00 to $34.00 in a research note on Wednesday, July 24th. DA Davidson upped their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Cadence Bank in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and an average target price of $35.29.

Cadence Bank Trading Down 0.8 %

CADE stock opened at $37.70 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. Cadence Bank has a 1-year low of $24.15 and a 1-year high of $39.79. The business has a 50 day simple moving average of $33.14 and a two-hundred day simple moving average of $30.87. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 10.83 and a beta of 0.95.

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

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. Cadence Bank’s dividend payout ratio (DPR) is 28.74%.

About Cadence Bank

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.