Disciplined Investors L.L.C. Makes New $2.37 Million Investment in Cadence Bank (NYSE:CADE)

Disciplined Investors L.L.C. bought a new position in shares of Cadence Bank (NYSE:CADE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,009 shares of the company's stock, valued at approximately $2,367,000. Cadence Bank makes up 2.3% of Disciplined Investors L.L.C.'s investment portfolio, making the stock its 11th largest holding.

Several other hedge funds also recently made changes to their positions in CADE. Norges Bank acquired a new position in shares of Cadence Bank in the 4th quarter valued at approximately $71,915,000. Boston Partners acquired a new position in Cadence Bank during the 4th quarter worth approximately $24,834,000. Raymond James Financial Inc. bought a new stake in shares of Cadence Bank during the fourth quarter worth $13,225,000. Point72 Asset Management L.P. acquired a new stake in shares of Cadence Bank during the third quarter valued at about $11,727,000. Finally, Fisher Asset Management LLC boosted its position in Cadence Bank by 19.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,655,847 shares of the company's stock worth $57,044,000 after buying an additional 264,691 shares during the period. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CADE shares. Morgan Stanley reduced their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Stephens reissued an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Citigroup upped their target price on Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Finally, Barclays upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cadence Bank has a consensus rating of "Moderate Buy" and a consensus target price of $38.64.

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Cadence Bank Trading Up 3.1 %

NYSE CADE traded up $0.81 during mid-day trading on Tuesday, hitting $27.28. The company's stock had a trading volume of 368,149 shares, compared to its average volume of 1,246,695. The company's 50 day simple moving average is $32.11 and its 200 day simple moving average is $33.91. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 9.86 and a beta of 0.87.

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

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Friday, March 14th. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio (DPR) is currently 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.