Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Cadence Bank (NYSE:CADE)

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Cadence Bank (NYSE:CADE – Get Rating) by 78.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,500 shares of the company’s stock after selling 20,097 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cadence Bank were worth $140,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Exchange Traded Concepts LLC raised its position in shares of Cadence Bank by 58.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,183 shares of the company’s stock worth $30,000 after acquiring an additional 437 shares in the last quarter. Creative Planning raised its position in shares of Cadence Bank by 3.7% during the 3rd quarter. Creative Planning now owns 12,665 shares of the company’s stock worth $322,000 after acquiring an additional 451 shares in the last quarter. Teton Advisors Inc. raised its position in shares of Cadence Bank by 3.4% during the 3rd quarter. Teton Advisors Inc. now owns 15,240 shares of the company’s stock worth $387,000 after acquiring an additional 500 shares in the last quarter. Strs Ohio raised its position in shares of Cadence Bank by 3.9% during the 3rd quarter. Strs Ohio now owns 21,300 shares of the company’s stock worth $541,000 after acquiring an additional 800 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Cadence Bank by 4.4% during the 1st quarter. Bank of Montreal Can now owns 19,804 shares of the company’s stock worth $603,000 after acquiring an additional 841 shares in the last quarter.

Analyst Upgrades and Downgrades

CADE has been the topic of several research analyst reports. Morgan Stanley cut their price target on Cadence Bank from $32.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 1st. Stephens lifted their price target on Cadence Bank from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 1st. Raymond James cut their price target on Cadence Bank from $32.00 to $30.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, February 1st. Janney Montgomery Scott lowered Cadence Bank from a “buy” rating to a “neutral” rating and boosted their target price for the company from $29.00 to $30.00 in a report on Thursday, November 17th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods dropped their target price on Cadence Bank from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.13.

Cadence Bank Stock Up 1.4 %

CADE opened at $26.09 on Friday. The business’s fifty day moving average is $26.01 and its two-hundred day moving average is $26.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.74 and a current ratio of 0.75. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 10.61 and a beta of 0.99. Cadence Bank has a one year low of $22.04 and a one year high of $31.02.

Cadence Bank (NYSE:CADE – Get Rating) last posted its earnings results on Tuesday, January 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $474.23 million for the quarter, compared to the consensus estimate of $485.08 million. Cadence Bank had a return on equity of 13.05% and a net margin of 22.56%. Cadence Bank’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. Analysts anticipate that Cadence Bank will post 2.9 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 3.60%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, March 14th. Cadence Bank’s payout ratio is presently 35.77%.

Cadence Bank Company Profile

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Cadence Bank provides banking and financial solutions to consumers, businesses and corporations. Its services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance.