Disciplined Investors L.L.C. Invests $2.37 Million in Cadence Bank (NYSE:CADE)

Disciplined Investors L.L.C. bought a new stake in Cadence Bank (NYSE:CADE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 70,009 shares of the company’s stock, valued at approximately $2,367,000. Cadence Bank accounts for about 2.3% of Disciplined Investors L.L.C.’s investment portfolio, making the stock its 11th biggest holding.

Several other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Cadence Bank during the 4th quarter valued at $26,000. Mather Group LLC. raised its position in shares of Cadence Bank by 716.2% in 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 during the period. Keystone Financial Group Inc. acquired a new stake in shares of Cadence Bank during the 4th quarter worth about $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Cadence Bank during the 3rd quarter worth about $32,000. Finally, Smartleaf Asset Management LLC grew its stake in Cadence Bank by 163.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after buying an additional 722 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CADE shares. Citigroup boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Hovde Group lowered their price objective on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Finally, 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 report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank presently has a consensus rating of “Moderate Buy” and an average target price of $38.64.

Cadence Bank Price Performance

Shares of CADE opened at $30.47 on Thursday. The firm has a 50 day simple moving average of $32.60 and a two-hundred day simple moving average of $34.01. The company has a market cap of $5.55 billion, a P/E ratio of 11.00 and a beta of 0.96. Cadence Bank has a one year low of $26.16 and a one year high of $40.20.

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 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 quarter in the prior year, the company posted $0.40 earnings per share. On average, analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.61%. Cadence Bank’s payout ratio is 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.