1 day Ago By ABMN Staff
Bank of Montreal Can raised its stake in shares of Cadence Bank ( NYSE:CADE – Free Report ) by 7.2% in the 4th quarter, HoldingsChannel.com reports.
The firm owned 36,514 shares of the company’s stock after purchasing an additional 2,462 shares during the quarter. Bank of Montreal Can’s holdings in Cadence Bank were worth $1,258,000 at the end of the most recent quarter. A number of other hedge funds also recently made changes to their positions in the stock.
Brooklyn Investment Group acquired a new stake in shares of Cadence Bank during the 4th quarter worth $26,000. Mather Group LLC. increased its stake in Cadence Bank by 716.
2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after acquiring an additional 709 shares during the last quarter.
Keystone Financial Group Inc. purchased a new position in shares of Cadence Bank in the 4th quarter worth about $31,000. Smartleaf Asset Management LLC lifted its stake in shares of Cadence Bank by 163.
7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after purchasing an additional 722 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Cadence Bank by 504.
9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock worth $59,000 after purchasing an additional 1,434 shares during the period. Institutional investors and hedge funds own 84.
61% of the company’s stock. Analyst Ratings Changes A number of brokerages have weighed in on CADE. Barclays reduced their price target on shares of Cadence Bank from $44.
00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Hovde Group decreased their price target on shares of Cadence Bank from $40.
00 to $35.00 and set a “market perform” rating for the company in a research report on Wednesday, April 2nd. Stephens reissued an “overweight” rating and issued a $42.
00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Citigroup upped their target price on Cadence Bank from $37.00 to $38.
00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Morgan Stanley dropped their target price on Cadence Bank from $46.00 to $42.
00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.
09. Cadence Bank Stock Down 0.2 % CADE stock opened at $27.
84 on Friday. The stock’s 50 day moving average is $30.44 and its two-hundred day moving average is $33.
56. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.
20. The company has a market capitalization of $5.07 billion, a PE ratio of 10.
05 and a beta of 0.87. Cadence Bank ( NYSE:CADE – Get Free Report ) last posted its quarterly earnings results on Wednesday, January 22nd.
The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm earned $0.40 EPS.
As a group, sell-side analysts anticipate that Cadence Bank will post 2.94 EPS for the current year. Cadence Bank Increases Dividend The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st.
Stockholders of record on Friday, March 14th were paid a $0.275 dividend. This represents a $1.
10 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Friday, March 14th.
This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio is 39.
71%. Cadence Bank Company Profile ( 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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