Stonegate Investment Group LLC Invests $258,000 in Cadence Bank (NYSE:CADE)

Stonegate Investment Group LLC bought a new stake in Cadence Bank (NYSE:CADEFree Report) during the 4th quarter, Holdings Channel reports. The institutional investor bought 8,726 shares of the company’s stock, valued at approximately $258,000.

Several other large investors have also recently bought and sold shares of CADE. AlphaMark Advisors LLC boosted its stake in Cadence Bank by 6.8% in the fourth quarter. AlphaMark Advisors LLC now owns 11,482 shares of the company’s stock valued at $340,000 after acquiring an additional 728 shares in the last quarter. Precedent Wealth Partners LLC acquired a new position in Cadence Bank in the fourth quarter valued at $223,000. Pacer Advisors Inc. boosted its stake in Cadence Bank by 79.5% in the fourth quarter. Pacer Advisors Inc. now owns 27,460 shares of the company’s stock valued at $813,000 after acquiring an additional 12,158 shares in the last quarter. Advisor Resource Council acquired a new position in Cadence Bank in the fourth quarter valued at $306,000. Finally, Moody National Bank Trust Division boosted its stake in Cadence Bank by 32.5% in the fourth quarter. Moody National Bank Trust Division now owns 29,087 shares of the company’s stock valued at $861,000 after acquiring an additional 7,128 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $27.60 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $5.04 billion, a P/E ratio of 9.48 and a beta of 1.02. Cadence Bank has a 52 week low of $16.95 and a 52 week high of $31.45. The company has a 50-day moving average price of $27.55 and a 200 day moving average price of $25.86.

Cadence Bank (NYSE:CADEGet Free Report) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Cadence Bank had a net margin of 23.33% and a return on equity of 9.55%. The firm had revenue of $23.15 million during the quarter, compared to analyst estimates of $433.99 million. Research analysts predict that Cadence Bank will post 2.42 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.62%. Cadence Bank’s dividend payout ratio (DPR) is 34.36%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CADE. Stephens restated an “overweight” rating and issued a $32.00 price objective on shares of Cadence Bank in a research note on Tuesday, January 30th. Barclays assumed coverage on shares of Cadence Bank in a research note on Friday, March 8th. They set an “equal weight” rating and a $28.00 target price for the company. TheStreet downgraded shares of Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. Truist Financial increased their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup increased their target price on shares of Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.77.

View Our Latest Stock Analysis on Cadence Bank

About Cadence Bank

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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