Federated Hermes Inc. Has $3.84 Million Stock Position in Cadence Bank (NYSE:CADE)

Federated Hermes Inc. reduced its holdings in Cadence Bank (NYSE:CADE) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,378 shares of the company’s stock after selling 15,427 shares during the period. Federated Hermes Inc. owned approximately 0.06% of Cadence Bank worth $3,837,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC grew its position in Cadence Bank by 1.4% during the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after buying an additional 599 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Cadence Bank by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock worth $670,000 after purchasing an additional 3,218 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Cadence Bank during the third quarter valued at approximately $222,000. Orion Portfolio Solutions LLC raised its stake in shares of Cadence Bank by 28.3% in the third quarter. Orion Portfolio Solutions LLC now owns 14,193 shares of the company’s stock valued at $452,000 after purchasing an additional 3,131 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Cadence Bank by 206.9% in the third quarter. Public Employees Retirement System of Ohio now owns 7,525 shares of the company’s stock worth $240,000 after purchasing an additional 5,073 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Stock Up 0.9 %

Cadence Bank stock opened at $27.21 on Friday. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The stock has a 50-day simple moving average of $31.19 and a 200 day simple moving average of $33.70. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 9.82 and a beta of 0.87.

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

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.04%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 14th. Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CADE shares. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays lowered their price objective on Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Citigroup upped their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and a consensus price target of $38.09.

Cadence Bank 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.