Dimensional Fund Advisors LP Acquires 79,344 Shares of Cadence Bank $CADE

Dimensional Fund Advisors LP grew its holdings in Cadence Bank (NYSE:CADE) by 0.8% during the third quarter, Holdings Channel.com reports. The firm owned 9,836,967 shares of the company’s stock after acquiring an additional 79,344 shares during the quarter. Dimensional Fund Advisors LP owned 0.05% of Cadence Bank worth $369,284,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fiduciary Group LLC grew its position in Cadence Bank by 84.6% in the third quarter. Fiduciary Group LLC now owns 18,343 shares of the company’s stock valued at $689,000 after purchasing an additional 8,408 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new position in shares of Cadence Bank during the 3rd quarter worth about $769,000. William Blair Investment Management LLC grew its holdings in shares of Cadence Bank by 196.8% in the 3rd quarter. William Blair Investment Management LLC now owns 2,544,499 shares of the company’s stock valued at $95,520,000 after acquiring an additional 1,687,329 shares in the last quarter. EJF Capital LLC acquired a new stake in shares of Cadence Bank in the third quarter valued at about $1,450,000. Finally, Rafferty Asset Management LLC raised its holdings in Cadence Bank by 44.9% during the third quarter. Rafferty Asset Management LLC now owns 289,030 shares of the company’s stock worth $10,850,000 after acquiring an additional 89,536 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Down 1.6%

Shares of CADE stock opened at $42.14 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day moving average is $43.04 and its 200-day moving average is $40.19. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 14.94 and a beta of 0.95. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $46.74.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The business 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 last year, the company posted $0.70 earnings per share. Sell-side analysts predict 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 was paid on Friday, February 20th. Investors of record on Friday, January 30th were issued a dividend of $0.3438 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, January 30th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.28. Cadence Bank’s payout ratio is presently 39.01%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Bank has a consensus rating of “Hold” and a consensus price target of $42.88.

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.