Loomis Sayles & Co. L P Has $13.91 Million Stock Position in Cadence Bank (NYSE:CADE)

Loomis Sayles & Co. L P cut its holdings in Cadence Bank (NYSE:CADE) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 403,676 shares of the company’s stock after selling 17,009 shares during the period. Loomis Sayles & Co. L P’s holdings in Cadence Bank were worth $13,907,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group bought a new position in Cadence Bank in the fourth quarter valued at $26,000. Mather Group LLC. grew its holdings in shares of Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after acquiring an additional 709 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Cadence Bank in the fourth quarter valued at about $31,000. Point72 Hong Kong Ltd bought a new stake in Cadence Bank during the third quarter worth about $32,000. Finally, Smartleaf Asset Management LLC boosted its position in Cadence Bank by 163.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after purchasing an additional 722 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Performance

Shares of CADE opened at $30.12 on Friday. The firm has a market cap of $5.49 billion, a P/E ratio of 10.87 and a beta of 0.96. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The firm’s 50-day simple moving average is $32.92 and its 200 day simple moving average is $33.99.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating 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 business earned $0.40 EPS. As a group, equities analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently disclosed 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 yield of 3.65%. Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup boosted their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Morgan Stanley lowered their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cadence Bank 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.