Cadence Bank (NYSE:CADE) Shares Bought by Natixis Advisors L.P.

Natixis Advisors L.P. grew its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,530 shares of the company's stock after purchasing an additional 81,948 shares during the quarter. Natixis Advisors L.P. owned approximately 0.16% of Cadence Bank worth $8,655,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Cadence Bank by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company's stock valued at $142,000 after acquiring an additional 524 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Cadence Bank by 6.8% during the fourth quarter. AlphaMark Advisors LLC now owns 11,482 shares of the company's stock worth $340,000 after purchasing an additional 728 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Cadence Bank by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 228,778 shares of the company's stock worth $6,770,000 after purchasing an additional 754 shares during the last quarter. Arizona State Retirement System lifted its stake in Cadence Bank by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 52,032 shares of the company's stock valued at $1,104,000 after buying an additional 789 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company's stock worth $31,000 after buying an additional 905 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Up 0.7 %

CADE traded up $0.20 during trading hours on Thursday, reaching $29.40. The company's stock had a trading volume of 1,601,507 shares, compared to its average volume of 1,340,580. The stock has a market cap of $5.36 billion, a PE ratio of 9.35 and a beta of 1.01. Cadence Bank has a fifty-two week low of $17.38 and a fifty-two week high of $31.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The business's 50-day moving average is $27.96 and its 200-day moving average is $27.07.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The company had revenue of $437.69 million for the quarter, compared to analysts' expectations of $427.18 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. Cadence Bank's revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Cadence Bank will post 2.48 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 3.40%. Cadence Bank's dividend payout ratio (DPR) is presently 31.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TheStreet downgraded Cadence Bank from a "b" rating to a "c" rating in a research report on Tuesday, January 30th. Morgan Stanley lifted their target price on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Wednesday, April 24th. Truist Financial upped their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Finally, Hovde Group raised shares of Cadence Bank from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $32.50 to $33.00 in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cadence Bank currently has an average rating of "Moderate Buy" and a consensus target price of $31.09.

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.