William Blair Investment Management LLC Raises Stock Holdings in Cadence Bank $CADE

William Blair Investment Management LLC lifted its holdings in shares of Cadence Bank (NYSE:CADE) by 196.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,544,499 shares of the company’s stock after acquiring an additional 1,687,329 shares during the period. William Blair Investment Management LLC owned 1.40% of Cadence Bank worth $95,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mather Group LLC. purchased a new position in Cadence Bank during the 3rd quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Cadence Bank during the third quarter worth about $38,000. Cullen Frost Bankers Inc. purchased a new position in shares of Cadence Bank during the third quarter worth about $39,000. Osaic Holdings Inc. increased its position in Cadence Bank by 24.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock valued at $46,000 after acquiring an additional 283 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Cadence Bank by 126.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,341 shares of the company’s stock valued at $50,000 after acquiring an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

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

Cadence Bank Stock Down 1.6%

CADE opened at $42.14 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $46.74. The stock has a market capitalization of $7.68 billion, a P/E ratio of 14.94 and a beta of 0.95. The business has a 50 day simple moving average of $43.18 and a 200-day simple moving average of $40.05.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The firm had revenue of $528.41 million during the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.70 earnings per share. On average, equities analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

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

Cadence Bank Profile

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.