Callahan Advisors LLC Buys New Holdings in Cadence Bank (NYSE:CADE)

Callahan Advisors LLC purchased a new position in shares of Cadence Bank (NYSE:CADE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,540 shares of the company’s stock, valued at approximately $225,000.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Cadence Bank in the third quarter worth $25,000. Brooklyn Investment Group purchased a new stake in Cadence Bank during the 4th quarter worth $26,000. Mather Group LLC. boosted its position in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after purchasing an additional 709 shares during the period. Keystone Financial Group Inc. acquired a new stake in Cadence Bank in the 4th quarter valued at $31,000. Finally, Point72 Hong Kong Ltd purchased a new position in Cadence Bank in the third quarter valued at about $32,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Performance

Shares of CADE stock opened at $34.48 on Wednesday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 12.45 and a beta of 0.99. Cadence Bank has a one year low of $26.16 and a one year high of $40.20. The company’s 50-day simple moving average is $35.02 and its 200-day simple moving average is $33.96.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm posted $0.40 EPS. As a group, research analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.19%. Cadence Bank’s payout ratio is presently 36.10%.

Analyst Ratings Changes

CADE has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Citigroup upped their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. 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. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Finally, Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

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.