Teton Advisors Inc. Sells 500 Shares of Cadence Bank (NYSE:CADE)

Teton Advisors Inc. trimmed its position in Cadence Bank (NYSE:CADE) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,500 shares of the company’s stock after selling 500 shares during the period. Teton Advisors Inc.’s holdings in Cadence Bank were worth $224,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CADE. Brooklyn Investment Group bought a new stake in shares of Cadence Bank during the fourth quarter valued at approximately $26,000. Mather Group LLC. increased its stake in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in Cadence Bank during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC raised its holdings in Cadence Bank by 163.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after buying an additional 722 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Cadence Bank by 504.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after buying an additional 1,434 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CADE has been the topic of a number of analyst reports. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Barclays dropped their target price on Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Citigroup raised their price objective 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, Hovde Group reduced their target price on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus target price of $38.09.

Cadence Bank Stock Performance

Shares of CADE stock opened at $27.48 on Tuesday. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 9.92 and a beta of 0.87. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20. The firm’s 50-day simple moving average is $31.04 and its two-hundred day simple moving average is $33.69.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 EPS 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 in the previous year, the firm posted $0.40 EPS. Analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.275 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 4.00%. Cadence Bank’s dividend payout ratio is presently 39.71%.

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.