Wealthfront Advisers LLC Buys Shares of 5,915 Cadence Bank (NYSE:CADE)

Wealthfront Advisers LLC bought a new stake in Cadence Bank (NYSE:CADE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,915 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after buying an additional 39,679 shares in the last quarter. Cerity Partners LLC increased its holdings in Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after buying an additional 15,312 shares in the last quarter. Stifel Financial Corp increased its holdings in Cadence Bank by 18.1% in the third quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after buying an additional 3,218 shares in the last quarter. Franklin Resources Inc. purchased a new position in Cadence Bank in the third quarter valued at about $947,000. Finally, Intech Investment Management LLC increased its holdings in Cadence Bank by 224.3% in the third quarter. Intech Investment Management LLC now owns 56,452 shares of the company’s stock valued at $1,798,000 after buying an additional 39,044 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CADE. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Morgan Stanley dropped their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Citigroup raised their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Cadence Bank Stock Performance

CADE stock opened at $30.30 on Tuesday. The stock has a market capitalization of $5.52 billion, a P/E ratio of 10.94 and a beta of 0.96. Cadence Bank has a one year low of $26.16 and a one year high of $40.20. The company has a 50 day moving average price of $33.68 and a two-hundred day moving average price of $34.08.

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

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Friday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is 39.71%.

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.