Dynamic Technology Lab Private Ltd Acquires 21,210 Shares of Cadence Bank (NYSE:CADE)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Cadence Bank (NYSE:CADE) by 137.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,664 shares of the company’s stock after buying an additional 21,210 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Cadence Bank were worth $1,263,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cadence Bank in the fourth quarter worth about $71,915,000. Boston Partners bought a new stake in Cadence Bank during the 4th quarter worth approximately $24,834,000. Raymond James Financial Inc. purchased a new position in Cadence Bank during the fourth quarter valued at approximately $13,225,000. Point72 Asset Management L.P. bought a new position in shares of Cadence Bank in the third quarter worth approximately $11,727,000. Finally, Fisher Asset Management LLC increased its stake in shares of Cadence Bank by 19.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,655,847 shares of the company’s stock worth $57,044,000 after purchasing an additional 264,691 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CADE. Morgan Stanley lowered their target price on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Citigroup lifted their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Finally, Hovde Group reduced their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.64.

Cadence Bank Stock Performance

Shares of CADE opened at $26.39 on Friday. The stock has a market capitalization of $4.81 billion, a PE ratio of 9.53 and a beta of 0.87. The company’s fifty day moving average is $32.29 and its 200 day moving average is $33.94. Cadence Bank has a fifty-two week low of $25.25 and a fifty-two week high of $40.20.

Cadence Bank (NYSE:CADE) last posted its earnings results 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 in the prior year, the firm posted $0.40 EPS. As a group, research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 14th. 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 yield of 4.17%. Cadence Bank’s dividend payout ratio is 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.