20,853 Shares in Cadence Bank (NYSE:CADE) Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in Cadence Bank (NYSE:CADE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,853 shares of the company’s stock, valued at approximately $718,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC raised its holdings in Cadence Bank by 390,500.0% in the 3rd quarter. Quest Partners LLC now owns 7,812 shares of the company’s stock valued at $249,000 after buying an additional 7,810 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cadence Bank by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock valued at $71,423,000 after buying an additional 105,231 shares during the period. Citigroup Inc. raised its position in shares of Cadence Bank by 14.5% during the third quarter. Citigroup Inc. now owns 296,511 shares of the company’s stock worth $9,444,000 after acquiring an additional 37,586 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock worth $2,050,000 after acquiring an additional 15,312 shares during the period. Finally, Algert Global LLC boosted its holdings in Cadence Bank by 2.8% in the third quarter. Algert Global LLC now owns 18,920 shares of the company’s stock valued at $603,000 after acquiring an additional 522 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Trading Down 0.2 %

Cadence Bank stock opened at $31.09 on Thursday. The firm’s fifty day moving average price is $33.12 and its two-hundred day moving average price is $34.02. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 11.22 and a beta of 0.96. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.40 earnings per share. On average, research analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.275 dividend. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 39.71%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley reduced 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. Keefe, Bruyette & Woods upped their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Citigroup lifted their price objective 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 Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.