Xponance Inc. Buys 1,159 Shares of Cadence Bank (NYSE:CADE)

Xponance Inc. increased its stake in Cadence Bank (NYSE:CADE) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,828 shares of the company’s stock after acquiring an additional 1,159 shares during the quarter. Xponance Inc.’s holdings in Cadence Bank were worth $890,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its holdings in Cadence Bank by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock worth $1,284,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC boosted its position in shares of Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after purchasing an additional 301 shares in the last quarter. Ironwood Investment Management LLC grew its stake in Cadence Bank by 1.2% during the fourth quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company’s stock worth $1,039,000 after purchasing an additional 354 shares during the period. Arizona State Retirement System increased its holdings in Cadence Bank by 0.8% in the fourth quarter. Arizona State Retirement System now owns 53,034 shares of the company’s stock worth $1,827,000 after purchasing an additional 415 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after buying an additional 522 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CADE has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Citigroup raised their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Morgan Stanley dropped their price target on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Cadence Bank Trading Up 3.5 %

Shares of NYSE:CADE opened at $31.38 on Tuesday. The stock has a market cap of $5.72 billion, a PE ratio of 11.33 and a beta of 0.96. The stock’s fifty day simple moving average is $33.29 and its two-hundred day simple moving average is $34.03. 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 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 quarter last year, the company earned $0.40 EPS. On average, sell-side analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Friday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is presently 39.71%.

Cadence Bank 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.