KBC Group NV Increases Stock Position in Cadence Bank (NYSE:CADE)

KBC Group NV raised its stake in shares of Cadence Bank (NYSE:CADEFree Report) by 63.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,239 shares of the company’s stock after purchasing an additional 3,203 shares during the period. KBC Group NV’s holdings in Cadence Bank were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CADE. Geode Capital Management LLC boosted its holdings in shares of Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after purchasing an additional 39,679 shares during the period. Cerity Partners LLC lifted its position in Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock worth $2,050,000 after buying an additional 15,312 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Cadence Bank by 18.1% in the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock worth $670,000 after acquiring an additional 3,218 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after acquiring an additional 291,885 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Cadence Bank during the 3rd quarter worth about $947,000. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Trading Down 2.4 %

Shares of CADE stock opened at $34.37 on Tuesday. The company has a market cap of $6.26 billion, a PE ratio of 12.41 and a beta of 0.99. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20. The business’s fifty day simple moving average is $35.63 and its 200-day simple moving average is $33.76.

Cadence Bank (NYSE:CADEGet Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share 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 period last year, the firm earned $0.40 EPS. On average, equities analysts forecast that Cadence Bank will post 2.92 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is presently 36.10%.

Wall Street Analysts Forecast Growth

CADE has been the subject of several analyst reports. Truist Financial raised their price objective 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. Citigroup raised their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. DA Davidson increased their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods boosted 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. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cadence Bank currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Check Out Our Latest Analysis on CADE

About Cadence Bank

(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.

See Also

Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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