Parkside Financial Bank & Trust Acquires 1,434 Shares of Cadence Bank (NYSE:CADE)

Parkside Financial Bank & Trust boosted its stake in Cadence Bank (NYSE:CADE) by 504.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,718 shares of the company’s stock after acquiring an additional 1,434 shares during the period. Parkside Financial Bank & Trust’s holdings in Cadence Bank were worth $59,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of Cadence Bank in the 4th quarter worth about $26,000. Mather Group LLC. raised its stake in Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after buying an additional 709 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in Cadence Bank in the fourth quarter worth about $31,000. Point72 Hong Kong Ltd bought a new stake in Cadence Bank during the 3rd quarter valued at approximately $32,000. Finally, GAMMA Investing LLC grew its holdings in shares of Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after acquiring an additional 301 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

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

Cadence Bank Stock Performance

Shares of Cadence Bank stock opened at $32.43 on Tuesday. The company has a 50-day simple moving average of $34.57 and a two-hundred day simple moving average of $34.19. The stock has a market capitalization of $5.91 billion, a PE ratio of 11.71 and a beta of 0.99. Cadence Bank has a 52-week low of $26.16 and a 52-week 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 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, equities research analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently declared 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 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 dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 39.71%.

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.