Dynamic Technology Lab Private Ltd Acquires 21,210 Shares of Cadence Bank (NYSE:CADE)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 137.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,664 shares of the company's stock after purchasing an additional 21,210 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Cadence Bank were worth $1,263,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Cadence Bank during the 4th quarter valued at $71,915,000. Boston Partners acquired a new position in shares of Cadence Bank in the fourth quarter valued at approximately $24,834,000. Raymond James Financial Inc. bought a new position in shares of Cadence Bank during the fourth quarter worth about $13,225,000. Point72 Asset Management L.P. acquired a new position in Cadence Bank during the 3rd quarter worth approximately $11,727,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Cadence Bank by 19.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,655,847 shares of the company's stock valued at $57,044,000 after purchasing an additional 264,691 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Price Performance

NYSE:CADE traded down $0.30 during trading hours on Friday, reaching $26.67. 386,297 shares of the company were exchanged, compared to its average volume of 1,258,345. The business has a 50 day moving average of $31.35 and a 200 day moving average of $33.73. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.20. The company has a market capitalization of $4.86 billion, a P/E ratio of 9.62 and a beta of 0.87.

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

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.12%. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 14th. Cadence Bank's dividend payout ratio (DPR) is 39.71%.

Analyst Upgrades and Downgrades

CADE has been the topic of several analyst reports. Hovde Group cut their price target on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 2nd. Stephens reiterated an "overweight" rating and set a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Morgan Stanley decreased their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Barclays reduced their target price on Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cadence Bank has a consensus rating of "Moderate Buy" and a consensus price target of $38.09.

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.