UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $16 Million Position in Cadence Bank (NYSE:CADE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cadence Bank (NYSE:CADE - Free Report) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,379 shares of the company's stock after purchasing an additional 63,459 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of Cadence Bank worth $15,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Cadence Bank by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 50,453 shares of the company's stock worth $1,738,000 after buying an additional 685 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Cadence Bank by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock valued at $77,678,000 after acquiring an additional 12,309 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Cadence Bank by 7.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 28,439 shares of the company's stock worth $980,000 after purchasing an additional 2,073 shares during the period. Smartleaf Asset Management LLC grew its position in Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock worth $40,000 after purchasing an additional 722 shares in the last quarter. Finally, Barclays PLC grew its position in Cadence Bank by 63.7% during the 3rd quarter. Barclays PLC now owns 441,669 shares of the company's stock worth $14,067,000 after purchasing an additional 171,940 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen lowered Cadence Bank from a "hold" rating to a "sell" rating in a report on Friday. Royal Bank of Canada reduced their price objective on Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods raised their price objective on Cadence Bank from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Piper Sandler lowered their target price on Cadence Bank from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley dropped their target price on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.82.

Cadence Bank Price Performance

NYSE:CADE traded down $0.23 during mid-day trading on Monday, reaching $30.07. The stock had a trading volume of 745,044 shares, compared to its average volume of 1,303,997. The stock has a market cap of $5.48 billion, a P/E ratio of 10.85 and a beta of 0.84. The business's 50 day moving average is $29.52 and its 200 day moving average is $32.75. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its earnings results on Monday, April 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. The company had revenue of $448.55 million during the quarter, compared to the consensus estimate of $451.61 million. During the same period in the previous year, the firm posted $0.62 earnings per share. Equities analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank announced that its Board of Directors has authorized a share repurchase program on Friday, April 25th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Cadence Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, June 13th. Cadence Bank's dividend payout ratio is presently 38.60%.

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.