Charles Schwab Investment Management Inc. Has $59.69 Million Position in Cadence Bank (NYSE:CADE)

Charles Schwab Investment Management Inc. raised its holdings in Cadence Bank (NYSE:CADE - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,017,359 shares of the company's stock after purchasing an additional 77,563 shares during the period. Charles Schwab Investment Management Inc. owned about 1.10% of Cadence Bank worth $59,694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fifth Third Bancorp lifted its stake in Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company's stock valued at $31,000 after buying an additional 905 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of Cadence Bank by 952.0% in the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company's stock worth $31,000 after acquiring an additional 952 shares during the last quarter. Allspring Global Investments Holdings LLC raised 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 purchasing an additional 524 shares during the last quarter. Hardy Reed LLC acquired a new position in Cadence Bank in the 3rd quarter valued at $203,000. Finally, Moody Lynn & Lieberson LLC acquired a new stake in Cadence Bank during the 4th quarter worth $205,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Trading Up 0.8 %

NYSE CADE traded up $0.24 during trading hours on Friday, reaching $29.53. The company had a trading volume of 1,152,107 shares, compared to its average volume of 1,331,593. Cadence Bank has a 1-year low of $17.76 and a 1-year high of $31.45. The stock has a market capitalization of $5.38 billion, a P/E ratio of 9.45 and a beta of 1.01. The stock has a 50-day moving average of $28.14 and a 200 day moving average of $27.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, topping 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 firm had revenue of $437.69 million during the quarter, compared to analysts' expectations of $427.18 million. During the same quarter last year, the company posted $0.68 EPS. The firm's quarterly revenue was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Cadence Bank will post 2.48 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, June 14th. Cadence Bank's payout ratio is 31.95%.

Analysts Set New Price Targets

CADE has been the topic of several research reports. Hovde Group raised shares of Cadence Bank from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $32.50 to $33.00 in a research note on Wednesday, April 24th. Royal Bank of Canada restated a "sector perform" rating and set a $31.00 target price on shares of Cadence Bank in a report on Tuesday, April 9th. Stephens reaffirmed an "overweight" rating and issued a $33.00 price target on shares of Cadence Bank in a report on Tuesday, April 23rd. Jefferies Financial Group reduced their price objective on Cadence Bank from $30.00 to $29.00 and set a "hold" rating on the stock in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods upped their target price on Cadence Bank from $32.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cadence Bank has a consensus rating of "Moderate Buy" and an average target price of $31.09.

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.