RFG Advisory LLC Has $1.34 Million Position in Cadence Bank (NYSE:CADE)

RFG Advisory LLC lifted its holdings in Cadence Bank (NYSE:CADE) by 336.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,930 shares of the company’s stock after purchasing an additional 30,014 shares during the period. RFG Advisory LLC’s holdings in Cadence Bank were worth $1,341,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in Cadence Bank in the 4th quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Cadence Bank in the third quarter valued at approximately $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cadence Bank in the third quarter worth $32,000. GAMMA Investing LLC increased its position in Cadence Bank by 55.8% during the third quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock worth $50,000 after acquiring an additional 559 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in Cadence Bank by 23.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock valued at $158,000 after purchasing an additional 926 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Up 2.6 %

NYSE CADE opened at $35.13 on Friday. The stock’s 50 day simple moving average is $35.98 and its 200 day simple moving average is $33.56. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The firm has a market cap of $6.40 billion, a PE ratio of 12.68 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE) last announced its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.98% and a net margin of 18.03%. During the same period last year, the firm earned $0.40 earnings per share. As a group, sell-side analysts forecast that Cadence Bank will post 2.87 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.13%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 39.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CADE. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on 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 reissued a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, Truist Financial lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.14.

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.