Loomis Sayles & Co. L P Has $13.40 Million Stock Position in Cadence Bank (NYSE:CADE)

Loomis Sayles & Co. L P lessened its stake in shares of Cadence Bank (NYSE:CADE) by 4.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 420,685 shares of the company’s stock after selling 18,451 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.23% of Cadence Bank worth $13,399,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Cadence Bank by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock worth $277,874,000 after buying an additional 593,878 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Cadence Bank by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock valued at $71,423,000 after acquiring an additional 105,231 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Cadence Bank by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 2,088,804 shares of the company’s stock worth $59,071,000 after purchasing an additional 36,323 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after purchasing an additional 291,885 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Cadence Bank by 21.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after purchasing an additional 237,748 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Down 1.7 %

CADE opened at $38.63 on Wednesday. The company has a market cap of $7.04 billion, a P/E ratio of 11.10 and a beta of 0.95. The company has a fifty day moving average price of $33.99 and a two-hundred day moving average price of $31.26. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 1-year low of $24.15 and a 1-year high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The business had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same period in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts predict that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.59%. Cadence Bank’s payout ratio is 28.74%.

Wall Street Analyst Weigh In

Several research analysts have commented on CADE shares. Royal Bank of Canada lifted their target price on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Truist Financial upped their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson raised their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Barclays increased their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and an average target price of $35.29.

Cadence Bank Company 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.