Cadence Bank (NYSE:CADE) Shares Purchased by Bailard Inc.

Bailard Inc. raised its stake in Cadence Bank (NYSE:CADE) by 46.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,741 shares of the company’s stock after acquiring an additional 3,100 shares during the period. Bailard Inc.’s holdings in Cadence Bank were worth $336,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after purchasing an additional 722 shares during the period. Fisher Asset Management LLC lifted its stake in Cadence Bank by 19.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,655,847 shares of the company’s stock valued at $57,044,000 after buying an additional 264,691 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Cadence Bank by 504.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after acquiring an additional 1,434 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Cadence Bank during the fourth quarter worth about $1,206,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Cadence Bank by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock worth $1,284,000 after acquiring an additional 300 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CADE shares. Keefe, Bruyette & Woods boosted their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Citigroup lifted 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, Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Cadence Bank Price Performance

NYSE CADE opened at $31.17 on Wednesday. Cadence Bank has a 12 month low of $26.16 and a 12 month high of $40.20. The company has a market capitalization of $5.68 billion, a P/E ratio of 11.25 and a beta of 0.96. The company’s 50 day simple moving average is $34.50 and its 200 day simple moving average is $34.19.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results 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 return on equity of 9.87% and a net margin of 18.03%. During the same period in the previous year, the company earned $0.40 EPS. On average, analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.53%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is currently 39.71%.

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.