35,001 Shares in Cadence Bank (NYSE:CADE) Bought by Proficio Capital Partners LLC

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in Cadence Bank by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company's stock worth $1,284,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC increased its position in Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock worth $64,000 after purchasing an additional 301 shares in the last quarter. KBC Group NV increased its position in Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company's stock worth $160,000 after purchasing an additional 519 shares in the last quarter. Algert Global LLC increased its position in Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company's stock worth $603,000 after purchasing an additional 522 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in Cadence Bank by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company's stock worth $1,406,000 after purchasing an additional 599 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Down 0.3 %

Shares of Cadence Bank stock traded down $0.10 on Friday, reaching $30.45. The stock had a trading volume of 1,165,625 shares, compared to its average volume of 1,164,860. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20. The company has a market cap of $5.55 billion, a P/E ratio of 10.99 and a beta of 0.96. The business's 50 day moving average is $34.34 and its two-hundred day moving average is $34.15.

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Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $0.40 EPS. On average, equities analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.275 per share. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Friday, March 14th. Cadence Bank's dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analyst Weigh In

CADE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. 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. Barclays raised shares of 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. Stephens reissued an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 target price 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.50.

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.