United Capital Financial Advisors LLC Purchases Shares of 11,034 Cadence Bank (NYSE:CADE)

United Capital Financial Advisors LLC bought a new stake in Cadence Bank (NYSE:CADE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,034 shares of the company’s stock, valued at approximately $380,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in Cadence Bank by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock worth $1,284,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC increased its position in shares of Cadence Bank by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after purchasing an additional 301 shares during the period. Ironwood Investment Management LLC raised its stake in Cadence Bank by 1.2% in the fourth quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company’s stock valued at $1,039,000 after purchasing an additional 354 shares in the last quarter. Arizona State Retirement System raised its stake in Cadence Bank by 0.8% in the fourth quarter. Arizona State Retirement System now owns 53,034 shares of the company’s stock valued at $1,827,000 after purchasing an additional 415 shares in the last quarter. Finally, Sit Investment Associates Inc. increased its holdings in Cadence Bank by 2.4% in the 4th quarter. Sit Investment Associates Inc. now owns 25,750 shares of the company’s stock valued at $887,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Citigroup lifted their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Barclays dropped their target price on shares of Cadence Bank from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Finally, Morgan Stanley dropped their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and a consensus price target of $38.09.

Cadence Bank Stock Down 0.2 %

CADE opened at $27.84 on Monday. The stock has a market cap of $5.07 billion, a PE ratio of 10.05 and a beta of 0.87. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20. The company has a fifty day moving average of $30.44 and a 200-day moving average of $33.60.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS 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 previous year, the company earned $0.40 earnings per share. Sell-side analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid 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 yield of 3.95%. Cadence Bank’s dividend payout ratio is currently 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.