AlphaQuest LLC Has $832,000 Stock Holdings in Cadence Bank (NYSE:CADE)

AlphaQuest LLC increased its stake in Cadence Bank (NYSE:CADE - Free Report) by 209.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,160 shares of the company's stock after purchasing an additional 16,348 shares during the period. AlphaQuest LLC's holdings in Cadence Bank were worth $832,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CADE. Wolverine Asset Management LLC raised its position in Cadence Bank by 59.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 10,917 shares of the company's stock worth $348,000 after purchasing an additional 4,069 shares during the last quarter. GSA Capital Partners LLP raised its position in Cadence Bank by 7.2% in the 3rd quarter. GSA Capital Partners LLP now owns 42,635 shares of the company's stock worth $1,358,000 after purchasing an additional 2,857 shares during the last quarter. MQS Management LLC bought a new position in Cadence Bank in the 3rd quarter worth approximately $316,000. KBC Group NV raised its position in Cadence Bank by 11.5% in 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 during the last quarter. Finally, Natixis Advisors LLC raised its position in Cadence Bank by 15.9% in the 3rd quarter. Natixis Advisors LLC now owns 486,122 shares of the company's stock worth $15,483,000 after purchasing an additional 66,747 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CADE shares. Barclays upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Stephens reiterated an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Citigroup upped their target price 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Cadence Bank has a consensus rating of "Moderate Buy" and an average target price of $38.50.

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Cadence Bank Trading Up 1.4 %

Shares of CADE stock traded up $0.40 on Tuesday, hitting $29.50. The stock had a trading volume of 2,438,726 shares, compared to its average volume of 1,211,633. Cadence Bank has a twelve month low of $26.16 and a twelve month high of $40.20. The firm has a market cap of $5.37 billion, a P/E ratio of 10.65 and a beta of 0.96. The company has a fifty day moving average price of $34.06 and a two-hundred day moving average price of $34.15.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 period last year, the business posted $0.40 earnings per share. On average, analysts expect that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 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 yield of 3.73%. Cadence Bank's dividend payout ratio is presently 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.