Advantage Alpha Capital Partners LP Buys 1,990 Shares of Cadence Bank (NYSE:CADE)

Advantage Alpha Capital Partners LP boosted its position in Cadence Bank (NYSE:CADE) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,689 shares of the company’s stock after purchasing an additional 1,990 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Cadence Bank were worth $609,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after purchasing an additional 39,679 shares in the last quarter. Cerity Partners LLC raised its stake in Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after buying an additional 15,312 shares during the last quarter. Stifel Financial Corp boosted its holdings in Cadence Bank by 18.1% in the third quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock worth $670,000 after acquiring an additional 3,218 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Cadence Bank by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 50,453 shares of the company’s stock worth $1,738,000 after acquiring an additional 685 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of Cadence Bank during the third quarter valued at about $947,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Cadence Bank Stock Up 3.5 %

Cadence Bank stock opened at $31.38 on Tuesday. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 11.33 and a beta of 0.96. The business’s 50-day moving average price is $33.29 and its 200 day moving average price is $34.03.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating 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 last year, the business posted $0.40 earnings per share. Equities analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 39.71%.

Analysts Set New Price Targets

A number of analysts recently commented on CADE shares. Keefe, Bruyette & Woods lifted their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley lowered 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. 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, January 24th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Finally, Citigroup boosted their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Cadence Bank 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.