889 Shares in Cadence Bank (NYSE:CADE) Bought by Keystone Financial Group Inc.

Keystone Financial Group Inc. purchased a new stake in shares of Cadence Bank (NYSE:CADE) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 889 shares of the company’s stock, valued at approximately $31,000.

A number of other large investors have also added to or reduced their stakes in CADE. Geode Capital Management LLC grew its stake in shares of Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after purchasing an additional 39,679 shares during the last quarter. Cerity Partners LLC grew its position in shares of Cadence Bank by 31.2% in the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock worth $2,050,000 after buying an additional 15,312 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Cadence Bank by 18.1% during the third quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after buying an additional 3,218 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Cadence Bank by 16.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after acquiring an additional 291,885 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Cadence Bank in the third quarter worth $947,000. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Performance

Shares of CADE stock opened at $35.58 on Friday. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 12.85 and a beta of 0.99. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The company’s 50-day moving average is $35.45 and its 200 day moving average is $33.81.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share 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 company posted $0.40 earnings per share. As a group, research analysts predict that Cadence Bank will post 2.92 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.09%. Cadence Bank’s dividend payout ratio (DPR) is 36.10%.

Analyst Ratings Changes

A number of brokerages have issued reports on CADE. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods increased their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial lifted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson increased their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

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.