RFG Advisory LLC Has $1.34 Million Holdings in Cadence Bank (NYSE:CADE)

RFG Advisory LLC boosted its holdings in Cadence Bank (NYSE:CADE - Free Report) by 336.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,930 shares of the company's stock after buying an additional 30,014 shares during the period. RFG Advisory LLC's holdings in Cadence Bank were worth $1,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Cadence Bank by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock valued at $64,000 after purchasing an additional 301 shares in the last quarter. KBC Group NV lifted its holdings 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 valued at $160,000 after buying an additional 519 shares during the last quarter. Algert Global LLC grew its stake in shares of 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 buying an additional 522 shares in the last quarter. HighTower Advisors LLC increased 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 buying an additional 599 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in Cadence Bank by 3.5% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 20,970 shares of the company's stock valued at $722,000 after acquiring an additional 715 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CADE. Morgan Stanley upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Stephens reaffirmed an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday. Keefe, Bruyette & Woods increased their price target on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. 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. Finally, Barclays upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.14.

Cadence Bank Price Performance

Shares of CADE stock traded up $0.90 during trading hours on Friday, hitting $35.13. 2,284,032 shares of the company's stock were exchanged, compared to its average volume of 956,758. Cadence Bank has a 52 week low of $24.99 and a 52 week high of $40.20. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 12.68 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock's 50-day moving average is $35.98 and its 200-day moving average is $33.56.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.98% and a net margin of 18.03%. During the same quarter in the prior year, the business posted $0.40 EPS. As a group, research analysts forecast that Cadence Bank will post 2.87 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.275 dividend. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, March 14th. 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.