Cadence Bank $CADE Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC raised its position in Cadence Bank (NYSE:CADE) by 196.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,544,499 shares of the company’s stock after purchasing an additional 1,687,329 shares during the period. William Blair Investment Management LLC’s holdings in Cadence Bank were worth $95,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CADE. Geode Capital Management LLC boosted its position in shares of Cadence Bank by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,664,361 shares of the company’s stock worth $149,182,000 after buying an additional 113,593 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Cadence Bank by 1.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,931,570 shares of the company’s stock valued at $110,051,000 after purchasing an additional 34,750 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Cadence Bank by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock valued at $85,953,000 after purchasing an additional 244,146 shares during the last quarter. First Trust Advisors LP grew its position in shares of Cadence Bank by 11.5% in the second quarter. First Trust Advisors LP now owns 2,587,221 shares of the company’s stock valued at $82,739,000 after purchasing an additional 266,621 shares during the last quarter. Finally, Channing Capital Management LLC purchased a new position in shares of Cadence Bank during the 2nd quarter worth approximately $75,681,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CADE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods downgraded Cadence Bank from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.88.

Cadence Bank Trading Down 1.6%

Shares of CADE opened at $42.14 on Friday. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $46.74. The company has a market capitalization of $7.68 billion, a PE ratio of 14.94 and a beta of 0.95. The stock has a fifty day moving average of $43.18 and a two-hundred day moving average of $40.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. The business had revenue of $528.41 million during the quarter, compared to the consensus estimate of $525.15 million. Cadence Bank had a return on equity of 10.16% and a net margin of 18.12%.During the same quarter in the previous year, the business earned $0.70 earnings per share. As a group, analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, January 30th were issued a dividend of $0.3438 per share. This represents a $1.38 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, January 30th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.28. Cadence Bank’s payout ratio is currently 39.01%.

About Cadence Bank

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.