Keystone Financial Group Inc. Makes New $31,000 Investment in Cadence Bank (NYSE:CADE)

Keystone Financial Group Inc. purchased a new stake in shares of Cadence Bank (NYSE:CADE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 889 shares of the company’s stock, valued at approximately $31,000.

A number of other large investors have also made changes to their positions in CADE. GAMMA Investing LLC raised its position in shares of Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after acquiring an additional 301 shares during the period. KBC Group NV grew its position in shares of Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares in the last quarter. Algert Global LLC raised its holdings in Cadence Bank by 2.8% in the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock valued at $603,000 after acquiring an additional 522 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Cadence Bank by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after acquiring an additional 599 shares during the period. Finally, Mather Group LLC. lifted its position in shares of Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after buying an additional 709 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Trading Up 0.7 %

CADE stock opened at $35.58 on Friday. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 12.85 and a beta of 0.99. The company’s 50 day moving average is $35.45 and its 200 day moving average is $33.81.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 in the prior year, the company posted $0.40 earnings per share. As a group, sell-side analysts forecast that Cadence Bank will post 2.92 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.09%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio is currently 36.10%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CADE shares. Truist Financial boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.