Parkside Financial Bank & Trust Purchases 1,434 Shares of Cadence Bank (NYSE:CADE)

Parkside Financial Bank & Trust boosted its position in Cadence Bank (NYSE:CADE) by 504.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,718 shares of the company’s stock after purchasing an additional 1,434 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Cadence Bank were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Cadence Bank during the third quarter worth about $11,727,000. Vaughan Nelson Investment Management L.P. lifted its position in Cadence Bank by 16.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after purchasing an additional 291,885 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in Cadence Bank by 21.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock worth $42,396,000 after buying an additional 237,748 shares in the last quarter. FMR LLC increased its holdings in shares of Cadence Bank by 1.2% in the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock worth $523,074,000 after buying an additional 195,773 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Cadence Bank by 63.7% during the 3rd quarter. Barclays PLC now owns 441,669 shares of the company’s stock valued at $14,067,000 after buying an additional 171,940 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Price Performance

Shares of Cadence Bank stock opened at $32.43 on Tuesday. The stock has a market capitalization of $5.91 billion, a P/E ratio of 11.71 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 business’s 50 day simple moving average is $34.57 and its two-hundred day simple moving average is $34.19.

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

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.39%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is 39.71%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CADE shares. Keefe, Bruyette & Woods upped their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Citigroup boosted 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, Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.