American Century Companies Inc. Boosts Stock Holdings in Cadence Bank (NYSE:CADE)

American Century Companies Inc. boosted its position in Cadence Bank (NYSE:CADE) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,735 shares of the company’s stock after buying an additional 11,793 shares during the quarter. American Century Companies Inc. owned approximately 0.09% of Cadence Bank worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cadence Bank by 3.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,981 shares of the company’s stock valued at $1,369,000 after acquiring an additional 1,447 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cadence Bank by 2.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,920 shares of the company’s stock valued at $12,769,000 after purchasing an additional 11,102 shares during the period. Captrust Financial Advisors lifted its holdings in Cadence Bank by 55.6% during the 3rd quarter. Captrust Financial Advisors now owns 23,606 shares of the company’s stock worth $752,000 after purchasing an additional 8,431 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Cadence Bank by 24.3% in the third quarter. Verition Fund Management LLC now owns 19,482 shares of the company’s stock worth $621,000 after buying an additional 3,807 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Cadence Bank in the third quarter valued at approximately $318,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CADE. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Citigroup boosted their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Morgan Stanley dropped their price target on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Hovde Group cut their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.64.

Cadence Bank Trading Down 4.3 %

Shares of Cadence Bank stock opened at $26.39 on Friday. Cadence Bank has a 12-month low of $25.25 and a 12-month high of $40.20. The company’s fifty day simple moving average is $32.29 and its two-hundred day simple moving average is $33.92. The company has a market cap of $4.81 billion, a P/E ratio of 9.53 and a beta of 0.87.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the prior year, the firm posted $0.40 EPS. Analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.17%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 14th. Cadence Bank’s payout ratio is 39.71%.

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.