Bleakley Financial Group LLC Makes New $561,000 Investment in Cadence Bank (NYSE:CADE)

Bleakley Financial Group LLC bought a new position in shares of Cadence Bank (NYSE:CADE) during the fourth quarter, HoldingsChannel.com reports. The firm bought 16,283 shares of the company’s stock, valued at approximately $561,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CADE. V Square Quantitative Management LLC bought a new stake in Cadence Bank during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group bought a new stake in shares of Cadence Bank during the fourth quarter valued at approximately $26,000. Mather Group LLC. raised its position in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after buying an additional 709 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Cadence Bank during the third quarter valued at approximately $32,000. Finally, GAMMA Investing LLC raised its position in shares of Cadence Bank by 55.8% during the third quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock valued at $50,000 after buying an additional 559 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Down 0.5 %

NYSE CADE opened at $35.13 on Tuesday. The company has a fifty day moving average of $35.33 and a two-hundred day moving average of $33.85. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 12.68 and a beta of 0.99. Cadence Bank has a 52 week low of $25.55 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 earnings per share (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 quarter last year, the company earned $0.40 earnings per share. Equities research analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.275 dividend. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, March 14th. Cadence Bank’s payout ratio is presently 39.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. DA Davidson boosted their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

About Cadence Bank

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.