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

Bleakley Financial Group LLC purchased a new stake in Cadence Bank (NYSE:CADE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,283 shares of the company's stock, valued at approximately $561,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CADE. V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank in the 3rd quarter valued at $25,000. Brooklyn Investment Group bought a new stake in shares of Cadence Bank in the 4th quarter valued at $26,000. Mather Group LLC. boosted its stake in shares of Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company's stock valued at $28,000 after purchasing an additional 709 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Cadence Bank in the 3rd quarter valued at $32,000. Finally, GAMMA Investing LLC boosted its stake in shares of Cadence Bank by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company's stock valued at $50,000 after purchasing an additional 559 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on CADE shares. Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. DA Davidson increased their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Finally, Barclays raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Four research 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.50.

Cadence Bank Stock Performance

Shares of Cadence Bank stock traded down $0.54 during trading hours on Friday, reaching $34.50. The company's stock had a trading volume of 1,189,790 shares, compared to its average volume of 1,157,123. The stock's fifty day simple moving average is $35.12 and its two-hundred day simple moving average is $33.89. The company has a market capitalization of $6.29 billion, a P/E ratio of 12.45 and a beta of 0.99. Cadence Bank has a one year low of $26.16 and a one year high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $0.70 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 in the prior year, the company earned $0.40 earnings per share. As a group, research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently announced 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 represents a $1.10 annualized dividend and a dividend yield of 3.19%. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio is currently 36.10%.

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.