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

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CADE. Brooklyn Investment Group bought a new stake in shares of Cadence Bank in the 4th quarter worth approximately $26,000. Mather Group LLC. increased its position in Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after buying an additional 709 shares during the last quarter. Keystone Financial Group Inc. bought a new stake in shares of Cadence Bank in the fourth quarter valued at $31,000. Point72 Hong Kong Ltd purchased a new position in shares of Cadence Bank during the 3rd quarter valued at $32,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after buying an additional 722 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Down 0.2 %

Cadence Bank stock opened at $31.09 on Thursday. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 11.22 and a beta of 0.96. The business has a 50-day simple moving average of $33.12 and a 200 day simple moving average of $34.02. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.40 EPS. On average, research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s payout ratio is currently 39.71%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CADE. Citigroup boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted 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. Finally, Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.