Cadence Ban said on January 25, 2023 that its board of directors declared a regular quarterly dividend of $0.24 per share ($0.94 annualized). Shareholders of record as of March 14, 2023 will receive the payment on April 3, 2023. Previously, the company paid $0.22 per share.

At the most recent share price of $26.08 / share, the stock’s dividend yield was 3.60%. Additionally, the company’s dividend payout ratio is 0.35, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is -0.10%.

Analyst Price Forecast Suggests 22.49% Upside

As of January 28, 2023, the average one-year price target for Cadence Ban is $31.94. The forecasts range from a low of $26.26 to a high of $36.75. The average price target represents an increase of 22.49% from its latest reported closing price of $26.08.

The projected annual revenue for Cadence Ban is $2,045MM, an increase of 26.97%. The projected annual EPS is $3.28, an increase of 83.37%.

Fund Sentiment

There are 719 funds or institutions reporting positions in Cadence Ban. This is a decrease of 16 owner(s) or 2.18%.

Average portfolio weight of all funds dedicated to US:CADE is 0.2827%, an increase of 12.3108%. Total shares owned by institutions decreased in the last three months by 1.63% to 160,685K shares.

What are large shareholders doing?

Wellington Management Group Llp holds 9,443,511 shares representing 5.18% ownership of the company. In it’s prior filing, the firm reported owning 7,723,680 shares, representing an increase of 18.21%. The firm decreased its portfolio allocation in CADE by 80.54% over the last quarter.

Silvercrest Asset Management Group holds 5,926,873 shares representing 3.25% ownership of the company. In it’s prior filing, the firm reported owning 5,910,570 shares, representing an increase of 0.28%. The firm increased its portfolio allocation in CADE by 17.40% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,454,507 shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 5,677,907 shares, representing a decrease of 4.10%. The firm increased its portfolio allocation in CADE by 8.37% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 4,632,187 shares representing 2.54% ownership of the company. In it’s prior filing, the firm reported owning 4,859,880 shares, representing a decrease of 4.92%. The firm increased its portfolio allocation in CADE by 7.56% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,482,419 shares representing 2.46% ownership of the company. No change in the last quarter.

Cadence Bank Background Information
(This description is provided by the company.)

Cadence Bank is a leading regional banking franchise with $48 billion in assets and more than 400 branch locations across the South, Midwest and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance. Cadence is committed to a culture of respect, diversity and inclusion in both its workplace and communities.

This article originally appeared on Fintel

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