Proficio Capital Partners LLC Invests $1.21 Million in Cadence Bank (NYSE:CADE)

Proficio Capital Partners LLC bought a new stake in shares of Cadence Bank (NYSE:CADE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 35,001 shares of the company's stock, valued at approximately $1,206,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CADE. FMR LLC raised its position in shares of Cadence Bank by 1.2% during the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company's stock valued at $523,074,000 after buying an additional 195,773 shares in the last quarter. State Street Corp lifted its holdings in Cadence Bank by 1.9% during the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company's stock valued at $284,759,000 after buying an additional 165,282 shares in the last quarter. Geode Capital Management LLC boosted its position in Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock valued at $138,974,000 after buying an additional 39,679 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Cadence Bank by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock worth $77,678,000 after acquiring an additional 12,309 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Cadence Bank by 7.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company's stock worth $76,986,000 after acquiring an additional 151,215 shares during the period. 84.61% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Barclays raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Stephens reissued an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Morgan Stanley dropped 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.77.

Cadence Bank Trading Up 3.5 %

Shares of CADE stock traded up $1.06 during trading hours on Monday, reaching $31.38. 1,575,889 shares of the company's stock were exchanged, compared to its average volume of 1,182,392. The stock's 50 day moving average is $33.34 and its 200-day moving average is $34.03. Cadence Bank has a fifty-two week low of $26.16 and a fifty-two week high of $40.20. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 11.33 and a beta of 0.96.

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, beating 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 company earned $0.40 EPS. Equities analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.275 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.51%. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio is currently 39.71%.

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.