Choreo LLC Purchases New Stake in Cadence Bank (NYSE:CADE)

Choreo LLC bought a new stake in Cadence Bank (NYSE:CADE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,092 shares of the company's stock, valued at approximately $348,000.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on CADE shares. Barclays upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Truist Financial boosted their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Stephens reiterated an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Finally, DA Davidson boosted their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.50.

Cadence Bank Price Performance

NYSE CADE traded down $0.54 on Monday, reaching $34.50. The company had a trading volume of 1,189,790 shares, compared to its average volume of 1,174,047. The firm has a market capitalization of $6.29 billion, a PE ratio of 12.45 and a beta of 0.99. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20. The firm has a 50-day moving average of $35.07 and a 200-day moving average of $33.92.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period last year, the business posted $0.40 EPS. As a group, sell-side analysts expect that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.19%. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. Cadence Bank's dividend payout ratio is presently 36.10%.

Cadence Bank 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.