Handelsbanken Fonder AB Grows Position in Cadence Bank (NYSE:CADE)

Handelsbanken Fonder AB boosted its stake in shares of Cadence Bank (NYSE:CADE) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,058 shares of the company’s stock after acquiring an additional 6,400 shares during the period. Handelsbanken Fonder AB’s holdings in Cadence Bank were worth $1,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Cadence Bank in the 4th quarter worth about $26,000. Mather Group LLC. lifted its holdings in shares of Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after buying an additional 709 shares during the period. Keystone Financial Group Inc. bought a new position in Cadence Bank during the 4th quarter worth about $31,000. Point72 Hong Kong Ltd bought a new position in shares of Cadence Bank during the third quarter valued at approximately $32,000. Finally, GAMMA Investing LLC increased its holdings in shares of Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after acquiring an additional 301 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CADE. Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup boosted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Finally, Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted 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 company. According to data from MarketBeat.com, Cadence Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Cadence Bank Price Performance

CADE opened at $32.46 on Thursday. The stock has a market cap of $5.91 billion, a P/E ratio of 11.72 and a beta of 0.99. The firm has a fifty day moving average price of $34.66 and a 200 day moving average price of $34.09. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping 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 in the prior year, the company earned $0.40 earnings per share. Equities analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently disclosed 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 is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio (DPR) 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.