ExodusPoint Capital Management LP Buys 46,293 Shares of Cadence Bank (NYSE:CADE)

ExodusPoint Capital Management LP lifted its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 218,416 shares of the company's stock after purchasing an additional 46,293 shares during the quarter. ExodusPoint Capital Management LP owned 0.12% of Cadence Bank worth $7,524,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CADE. Brooklyn Investment Group acquired a new position in Cadence Bank during the fourth quarter valued at approximately $26,000. Mather Group LLC. raised its holdings in shares of Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company's stock worth $28,000 after buying an additional 709 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in Cadence Bank in the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC grew its position in Cadence Bank by 163.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock valued at $40,000 after acquiring an additional 722 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Cadence Bank by 504.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company's stock worth $59,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Down 8.4 %

CADE traded down $2.43 during midday trading on Thursday, hitting $26.44. The company had a trading volume of 375,881 shares, compared to its average volume of 1,257,116. The stock's 50 day moving average price is $31.50 and its 200 day moving average price is $33.76. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 9.59 and a beta of 0.87.

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

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.275 per share. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 4.16%. Cadence Bank's dividend payout ratio is presently 39.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CADE shares. Citigroup upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Stephens reiterated an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Morgan Stanley reduced their price objective on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Hovde Group dropped their target price on Cadence Bank from $40.00 to $35.00 and set a "market perform" rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays lowered their price objective 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 assigned a buy rating to the stock. According to MarketBeat, Cadence Bank presently has an average rating of "Moderate Buy" and a consensus price target of $38.09.

About Cadence Bank

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.