Callahan Advisors LLC Takes Position in Cadence Bank (NYSE:CADE)

Callahan Advisors LLC purchased a new position in Cadence Bank (NYSE:CADE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,540 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Cadence Bank in the fourth quarter worth $26,000. V Square Quantitative Management LLC acquired a new position in shares of Cadence Bank during the third quarter valued at $25,000. Mather Group LLC. grew its position in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after acquiring an additional 709 shares during the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Cadence Bank in the 4th quarter worth about $31,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Cadence Bank in the 3rd quarter worth about $32,000. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Performance

CADE opened at $34.48 on Wednesday. The firm has a market cap of $6.28 billion, a P/E ratio of 12.45 and a beta of 0.99. The business has a 50 day moving average price of $35.02 and a 200 day moving average price of $33.96. Cadence Bank has a twelve month low of $26.16 and a twelve month high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.40 earnings per share. As a group, analysts anticipate 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 will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.19%. Cadence Bank’s dividend payout ratio is 36.10%.

Analyst Upgrades and Downgrades

CADE has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted 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. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. 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. Finally, DA Davidson boosted their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.