Swiss National Bank Has $12.38 Million Holdings in Cadence Bank (NYSE:CADE)

Swiss National Bank increased its holdings in Cadence Bank (NYSE:CADE) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 359,453 shares of the company’s stock after buying an additional 2,700 shares during the period. Swiss National Bank’s holdings in Cadence Bank were worth $12,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. KBC Group NV raised its holdings in Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares in the last quarter. Natixis Advisors LLC raised its stake in Cadence Bank by 15.9% in the third quarter. Natixis Advisors LLC now owns 486,122 shares of the company’s stock valued at $15,483,000 after purchasing an additional 66,747 shares in the last quarter. MAI Capital Management lifted its position in Cadence Bank by 132.9% during the third quarter. MAI Capital Management now owns 41,685 shares of the company’s stock worth $1,328,000 after purchasing an additional 23,790 shares during the period. Quest Partners LLC grew its stake in Cadence Bank by 390,500.0% during the third quarter. Quest Partners LLC now owns 7,812 shares of the company’s stock worth $249,000 after buying an additional 7,810 shares in the last quarter. Finally, LMR Partners LLP bought a new position in Cadence Bank in the 3rd quarter valued at about $212,000. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Trading Up 1.3 %

NYSE:CADE opened at $30.66 on Thursday. The stock’s 50-day moving average is $33.51 and its 200-day moving average is $34.04. The stock has a market cap of $5.59 billion, a P/E ratio of 11.07 and a beta of 0.96. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the previous year, the company posted $0.40 earnings per share. As a group, equities analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is 39.71%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CADE. Morgan Stanley cut their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.77.

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.