Quantbot Technologies LP Invests $718,000 in Cadence Bank (NYSE:CADE)

Quantbot Technologies LP bought a new position in shares of Cadence Bank (NYSE:CADE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,853 shares of the company's stock, valued at approximately $718,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC increased its position in Cadence Bank by 390,500.0% in the 3rd quarter. Quest Partners LLC now owns 7,812 shares of the company's stock valued at $249,000 after buying an additional 7,810 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cadence Bank by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company's stock valued at $71,423,000 after acquiring an additional 105,231 shares during the period. Citigroup Inc. increased its holdings in shares of Cadence Bank by 14.5% during the third quarter. Citigroup Inc. now owns 296,511 shares of the company's stock valued at $9,444,000 after acquiring an additional 37,586 shares in the last quarter. Cerity Partners LLC raised its holdings in Cadence Bank by 31.2% during the third quarter. Cerity Partners LLC now owns 64,377 shares of the company's stock worth $2,050,000 after buying an additional 15,312 shares during the last quarter. Finally, Algert Global LLC lifted its stake in shares of Cadence Bank by 2.8% in the third quarter. Algert Global LLC now owns 18,920 shares of the company's stock valued at $603,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several brokerages recently issued reports on CADE. Barclays raised Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Citigroup lifted their price objective 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. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Stephens restated an "overweight" rating and set a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.77.

Cadence Bank Stock Down 2.1 %

NYSE CADE traded down $0.65 during trading on Friday, hitting $30.12. 1,010,060 shares of the stock traded hands, compared to its average volume of 1,242,303. The company has a market capitalization of $5.49 billion, a P/E ratio of 10.87 and a beta of 0.96. The firm has a 50-day simple moving average of $32.92 and a 200-day simple moving average of $34.04. Cadence Bank has a 12-month low of $26.16 and a 12-month high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share 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 business posted $0.40 earnings per share. As a group, research analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.65%. Cadence Bank's dividend payout ratio is currently 39.71%.

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.