AlphaQuest LLC Grows Position in Cadence Bank (NYSE:CADE)

AlphaQuest LLC boosted its stake in shares of Cadence Bank (NYSE:CADE) by 209.3% during the 4th quarter, Holdings Channel reports. The firm owned 24,160 shares of the company’s stock after acquiring an additional 16,348 shares during the quarter. AlphaQuest LLC’s holdings in Cadence Bank were worth $832,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Cadence Bank in the 4th quarter valued at $26,000. Mather Group LLC. boosted 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 valued at $28,000 after acquiring an additional 709 shares during the last quarter. Keystone Financial Group Inc. purchased a new stake in shares of Cadence Bank in the 4th quarter valued at $31,000. Point72 Hong Kong Ltd purchased a new stake in shares of Cadence Bank in the 3rd quarter valued at $32,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Cadence Bank by 163.7% during 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 in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Down 4.0 %

Shares of NYSE CADE opened at $29.15 on Tuesday. The firm has a 50-day simple moving average of $34.16 and a 200-day simple moving average of $34.17. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 10.52 and a beta of 0.96. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last issued its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating 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 previous year, the business earned $0.40 earnings per share. As a group, equities research analysts expect 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. Stockholders of record on Friday, March 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost 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

A number of analysts recently issued reports on CADE shares. Citigroup increased their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.