Cadence Bancorp (CADE) Position Increased by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. boosted its stake in Cadence Bancorp (NYSE:CADE) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,943 shares of the company’s stock after acquiring an additional 14,992 shares during the period. Dana Investment Advisors Inc.’s holdings in Cadence Bancorp were worth $1,895,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Cadence Bancorp by 81.9% during the third quarter. Vanguard Group Inc. now owns 7,840,936 shares of the company’s stock worth $204,805,000 after purchasing an additional 3,529,226 shares during the period. Vanguard Group Inc raised its holdings in shares of Cadence Bancorp by 81.9% during the third quarter. Vanguard Group Inc now owns 7,840,936 shares of the company’s stock worth $204,805,000 after purchasing an additional 3,529,226 shares during the period. BlackRock Inc. raised its holdings in shares of Cadence Bancorp by 17.0% during the fourth quarter. BlackRock Inc. now owns 6,811,298 shares of the company’s stock worth $114,294,000 after purchasing an additional 987,754 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Cadence Bancorp by 79.8% during the third quarter. Alliancebernstein L.P. now owns 4,787,692 shares of the company’s stock worth $125,055,000 after purchasing an additional 2,124,402 shares during the period. Finally, FMR LLC raised its holdings in shares of Cadence Bancorp by 56.9% during the third quarter. FMR LLC now owns 3,754,761 shares of the company’s stock worth $98,074,000 after purchasing an additional 1,362,285 shares during the period.
A number of analysts have weighed in on CADE shares. TheStreet cut shares of Cadence Bancorp from a “c-” rating to a “d+” rating in a report on Monday, January 14th. SunTrust Banks dropped their target price on shares of Cadence Bancorp to $18.00 and set a “hold” rating on the stock in a report on Friday, January 4th. They noted that the move was a valuation call. Stephens reissued a “buy” rating and set a $25.00 target price on shares of Cadence Bancorp in a report on Tuesday, January 29th. Goldman Sachs Group started coverage on shares of Cadence Bancorp in a report on Tuesday, March 5th. They set a “buy” rating and a $23.00 target price on the stock. Finally, ValuEngine cut shares of Cadence Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, November 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $25.90.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Monday, January 28th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The firm had revenue of $124.15 million for the quarter, compared to the consensus estimate of $123.44 million. Cadence Bancorp had a return on equity of 12.68% and a net margin of 27.38%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. Equities research analysts predict that Cadence Bancorp will post 2.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.175 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.70 annualized dividend and a dividend yield of 3.55%. This is a positive change from Cadence Bancorp’s previous quarterly dividend of $0.15. Cadence Bancorp’s dividend payout ratio is currently 33.82%.
Cadence Bancorp Company Profile
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.
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