Intergy Private Wealth LLC Cuts Position in Cadence Bank (NYSE:CADE)

Intergy Private Wealth LLC lessened its holdings in shares of Cadence Bank (NYSE:CADE) by 2.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,502 shares of the company’s stock after selling 385 shares during the quarter. Intergy Private Wealth LLC’s holdings in Cadence Bank were worth $568,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in shares of Cadence Bank during the 4th quarter valued at about $26,000. V Square Quantitative Management LLC acquired a new position in shares of Cadence Bank during the third quarter worth $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Cadence Bank in the third quarter valued at $32,000. GAMMA Investing LLC grew its holdings in Cadence Bank by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock valued at $50,000 after purchasing an additional 559 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Cadence Bank by 23.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock worth $158,000 after buying an additional 926 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CADE has been the subject of several recent analyst reports. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Citigroup upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday. Finally, DA Davidson upped their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.13.

Cadence Bank Stock Up 0.2 %

Cadence Bank stock opened at $35.21 on Friday. The firm has a 50-day moving average price of $35.81 and a two-hundred day moving average price of $33.69. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 12.71 and a beta of 1.00. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.40 EPS. Research analysts expect that Cadence Bank will post 2.92 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.12%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio is presently 36.10%.

Cadence Bank Company 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.