Cadence Bank (NYSE:CADE) Shares Bought by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL boosted its position in Cadence Bank (NYSE:CADE) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,860 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Cadence Bank were worth $2,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in Cadence Bank during the 4th quarter valued at $26,000. Mather Group LLC. raised its stake in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in shares of Cadence Bank during the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its holdings in Cadence Bank by 163.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after purchasing an additional 722 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in Cadence Bank by 504.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after buying an additional 1,434 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

CADE has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Hovde Group dropped their price objective on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 2nd. Citigroup raised their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.09.

Cadence Bank Price Performance

Shares of CADE opened at $27.84 on Friday. The company has a 50-day moving average of $30.59 and a two-hundred day moving average of $33.58. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 10.05 and a beta of 0.87. Cadence Bank has a one year low of $25.22 and a one year high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data 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 net margin of 18.03% and a return on equity of 9.87%. During the same period last year, the business posted $0.40 earnings per share. Analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.95%. Cadence Bank’s 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.