Segall Bryant & Hamill LLC Buys 10,756 Shares of Cadence Bank (NYSE:CADE)

Segall Bryant & Hamill LLC grew its stake in Cadence Bank (NYSE:CADE) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,341,868 shares of the company’s stock after acquiring an additional 10,756 shares during the period. Segall Bryant & Hamill LLC owned 0.74% of Cadence Bank worth $46,227,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CADE. Advantage Alpha Capital Partners LP boosted its holdings in shares of Cadence Bank by 12.7% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 17,689 shares of the company’s stock valued at $609,000 after purchasing an additional 1,990 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Cadence Bank by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company’s stock worth $705,821,000 after buying an additional 191,717 shares during the period. LPL Financial LLC lifted its holdings in shares of Cadence Bank by 39.2% in the 4th quarter. LPL Financial LLC now owns 149,475 shares of the company’s stock worth $5,149,000 after buying an additional 42,097 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Cadence Bank during the 4th quarter worth $1,287,000. Finally, American Century Companies Inc. increased its stake in shares of Cadence Bank by 7.9% during the fourth quarter. American Century Companies Inc. now owns 160,735 shares of the company’s stock valued at $5,537,000 after buying an additional 11,793 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Price Performance

Cadence Bank stock opened at $31.38 on Tuesday. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20. The business has a fifty day moving average price of $33.29 and a 200-day moving average price of $34.03. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 11.33 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $0.40 earnings per share. On average, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.51%. Cadence Bank’s dividend payout ratio is presently 39.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CADE. Citigroup increased their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. 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 report on Thursday, December 19th. Finally, Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.