Mackenzie Financial Corp Increases Holdings in Cadence Bank $CADE

Mackenzie Financial Corp lifted its stake in shares of Cadence Bank (NYSE:CADE) by 71.4% during the second quarter, HoldingsChannel.com reports. The firm owned 673,304 shares of the company’s stock after purchasing an additional 280,424 shares during the quarter. Mackenzie Financial Corp’s holdings in Cadence Bank were worth $21,532,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Cadence Bank by 7.8% during the first quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company’s stock valued at $409,301,000 after buying an additional 980,369 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Cadence Bank by 0.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,520,057 shares of the company’s stock valued at $167,589,000 after acquiring an additional 32,362 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cadence Bank by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,664,361 shares of the company’s stock worth $149,182,000 after acquiring an additional 113,593 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Cadence Bank by 5.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,619,544 shares of the company’s stock worth $109,889,000 after purchasing an additional 193,582 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Cadence Bank by 19.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company’s stock worth $92,640,000 after purchasing an additional 480,622 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Trading Up 1.7%

Shares of CADE stock opened at $40.53 on Tuesday. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.56. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $37.97 and a two-hundred day moving average price of $35.48. The firm has a market cap of $7.38 billion, a P/E ratio of 14.68 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, October 20th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.77 by $0.04. The company had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. During the same quarter last year, the firm earned $0.73 EPS. Equities analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, December 15th. Cadence Bank’s payout ratio is 39.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CADE shares. Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 28th. Barclays lowered Cadence Bank from an “overweight” rating to a “hold” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada upgraded Cadence Bank from a “hold” rating to a “moderate buy” rating in a research note on Monday, October 27th. Morgan Stanley cut Cadence Bank from an “overweight” rating to a “sell” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Bank in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.33.

About Cadence Bank

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.