CIBC Private Wealth Group LLC Has $253,000 Holdings in Cadence Bank (NYSE:CADE)

CIBC Private Wealth Group LLC trimmed its position in Cadence Bank (NYSE:CADE) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,197 shares of the company’s stock after selling 946 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Cadence Bank were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CADE. Brooklyn Investment Group purchased a new stake in shares of Cadence Bank in the 4th quarter valued at approximately $26,000. Mather Group LLC. raised its stake in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares during the period. Keystone Financial Group Inc. purchased a new stake in shares of Cadence Bank in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC boosted its position in shares of Cadence Bank by 163.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after buying an additional 722 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Cadence Bank by 504.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after buying an additional 1,434 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Down 4.3 %

Cadence Bank stock opened at $26.39 on Monday. Cadence Bank has a 1-year low of $25.25 and a 1-year high of $40.20. The firm’s fifty day simple moving average is $32.29 and its 200-day simple moving average is $33.95. The company has a market capitalization of $4.81 billion, a P/E ratio of 9.53 and a beta of 0.87.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same quarter last year, the company earned $0.40 EPS. On average, equities research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were 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 4.17%. The ex-dividend date was Friday, March 14th. Cadence Bank’s payout ratio is 39.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CADE shares. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Morgan Stanley reduced their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Hovde Group lowered their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 2nd. Citigroup increased 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. Finally, Stephens restated an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and an average price target of $38.64.

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.