Vaughan Nelson Investment Management L.P. Has $76.99 Million Position in Cadence Bank (NYSE:CADE)

Vaughan Nelson Investment Management L.P. raised its holdings in Cadence Bank (NYSE:CADE) by 7.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,234,733 shares of the company’s stock after acquiring an additional 151,215 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Cadence Bank were worth $76,986,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Cadence Bank by 74.2% during the second quarter. AQR Capital Management LLC now owns 30,254 shares of the company’s stock worth $856,000 after buying an additional 12,887 shares during the last quarter. Creative Planning lifted its stake in shares of Cadence Bank by 65.4% in the second quarter. Creative Planning now owns 32,176 shares of the company’s stock worth $910,000 after buying an additional 12,723 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cadence Bank by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock worth $50,000 after buying an additional 559 shares during the period. nVerses Capital LLC bought a new position in Cadence Bank in the 3rd quarter worth $354,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Cadence Bank during the 3rd quarter worth about $25,000. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CADE. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Citigroup upped their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Finally, DA Davidson raised their price objective 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. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Cadence Bank Price Performance

CADE opened at $35.34 on Friday. The stock has a market capitalization of $6.44 billion, a P/E ratio of 12.76 and a beta of 0.99. The company’s 50 day simple moving average is $35.39 and its 200-day simple moving average is $33.83. Cadence Bank has a one year low of $25.27 and a one year high of $40.20.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.275 per share. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.11%. Cadence Bank’s payout ratio is presently 36.10%.

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.