Charles Schwab Investment Management Inc. Raises Holdings in Cadence Bank (NYSE:CADE)

Charles Schwab Investment Management Inc. raised its holdings in shares of Cadence Bank (NYSE:CADE) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,254,795 shares of the company’s stock after purchasing an additional 12,309 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.24% of Cadence Bank worth $77,678,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CADE. Wolverine Asset Management LLC boosted its stake in Cadence Bank by 59.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 10,917 shares of the company’s stock valued at $348,000 after purchasing an additional 4,069 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Cadence Bank by 7.2% during the 3rd quarter. GSA Capital Partners LLP now owns 42,635 shares of the company’s stock valued at $1,358,000 after purchasing an additional 2,857 shares during the last quarter. MQS Management LLC purchased a new stake in Cadence Bank during the 3rd quarter valued at $316,000. KBC Group NV boosted its stake in Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in Cadence Bank by 15.9% during the 3rd 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 during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Performance

Shares of Cadence Bank stock opened at $29.15 on Tuesday. Cadence Bank has a one year low of $26.16 and a one year high of $40.20. The stock’s fifty day moving average is $34.16 and its 200 day moving average is $34.17. The stock has a market cap of $5.31 billion, a P/E ratio of 10.52 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last announced its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping 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 in the previous year, the company posted $0.40 EPS. Analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.77%. Cadence Bank’s dividend payout ratio (DPR) is currently 39.71%.

Wall Street Analyst Weigh In

CADE has been the topic of several recent analyst reports. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. 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. Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price target 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.50.

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.