Vaughan Nelson Investment Management L.P. Has $45.34 Million Stake in Cadence Bank (NYSE:CADE)

Vaughan Nelson Investment Management L.P. boosted its holdings in Cadence Bank (NYSE:CADE - Free Report) by 81.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,532,423 shares of the company's stock after buying an additional 687,025 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.84% of Cadence Bank worth $45,344,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cadence Bank by 50.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,197 shares of the company's stock worth $3,675,000 after purchasing an additional 41,533 shares during the period. Park Place Capital Corp boosted its stake in Cadence Bank by 39.0% in the 4th quarter. Park Place Capital Corp now owns 7,989 shares of the company's stock worth $236,000 after purchasing an additional 2,242 shares during the period. Moody Lynn & Lieberson LLC acquired a new stake in shares of Cadence Bank during the 4th quarter valued at $205,000. Hardy Reed LLC boosted its stake in shares of Cadence Bank by 2,090.0% during the 4th quarter. Hardy Reed LLC now owns 209,360 shares of the company's stock valued at $6,195,000 after buying an additional 199,800 shares during the period. Finally, Stonegate Investment Group LLC acquired a new stake in shares of Cadence Bank during the 4th quarter valued at $258,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Stock Performance

CADE traded up $0.19 during trading on Friday, hitting $27.67. The stock had a trading volume of 1,003,462 shares, compared to its average volume of 1,092,844. The firm has a market cap of $5.05 billion, a PE ratio of 9.51 and a beta of 1.02. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $27.47 and a 200-day simple moving average of $25.94.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Monday, January 29th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.13). Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The company had revenue of $23.15 million for the quarter, compared to the consensus estimate of $433.99 million. Analysts expect that Cadence Bank will post 2.38 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.25 per share. This is an increase from Cadence Bank's previous quarterly dividend of $0.24. The ex-dividend date was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.61%. Cadence Bank's payout ratio is presently 34.36%.

Analyst Upgrades and Downgrades

CADE has been the subject of a number of research reports. Royal Bank of Canada reissued a "sector perform" rating and set a $31.00 target price on shares of Cadence Bank in a research note on Wednesday, January 31st. Hovde Group lowered shares of Cadence Bank from an "outperform" rating to a "market perform" rating and set a $32.50 price objective for the company. in a research note on Tuesday, January 30th. Barclays assumed coverage on shares of Cadence Bank in a research note on Friday, March 8th. They issued an "equal weight" rating and a $28.00 price objective for the company. DA Davidson reaffirmed a "buy" rating on shares of Cadence Bank in a research note on Monday, January 15th. Finally, TheStreet lowered shares of Cadence Bank from a "b" rating to a "c" rating in a research note on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.77.

Cadence Bank 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.