Disciplined Investors L.L.C. Buys Shares of 70,009 Cadence Bank (NYSE:CADE)

Disciplined Investors L.L.C. purchased a new position in shares of Cadence Bank (NYSE:CADE) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 70,009 shares of the company’s stock, valued at approximately $2,367,000. Cadence Bank accounts for approximately 2.3% of Disciplined Investors L.L.C.’s holdings, making the stock its 11th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in Cadence Bank by 0.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock valued at $1,284,000 after buying an additional 300 shares during the period. GAMMA Investing LLC boosted its stake in Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after acquiring an additional 301 shares during the last quarter. Ironwood Investment Management LLC grew its holdings in Cadence Bank by 1.2% during the fourth quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company’s stock valued at $1,039,000 after purchasing an additional 354 shares during the period. Arizona State Retirement System increased its stake in Cadence Bank by 0.8% in the fourth quarter. Arizona State Retirement System now owns 53,034 shares of the company’s stock valued at $1,827,000 after purchasing an additional 415 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Cadence Bank by 1.4% in the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares during the period. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CADE. Citigroup upped 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. Morgan Stanley lowered their price target on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Hovde Group dropped their price target on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.64.

Cadence Bank Stock Up 0.2 %

Shares of CADE stock opened at $30.47 on Thursday. Cadence Bank has a 12 month low of $26.16 and a 12 month high of $40.20. The company’s fifty day simple moving average is $32.60 and its 200-day simple moving average is $34.01. The firm has a market cap of $5.55 billion, a PE ratio of 11.00 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last issued its quarterly 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 quarter in the previous year, the firm posted $0.40 EPS. On average, equities analysts predict that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.61%. Cadence Bank’s dividend payout ratio is 39.71%.

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.