Pacer Advisors Inc. Boosts Stake in Cadence Bank (NYSE:CADE)

Pacer Advisors Inc. grew its stake in Cadence Bank (NYSE:CADEFree Report) by 79.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,460 shares of the company’s stock after buying an additional 12,158 shares during the period. Pacer Advisors Inc.’s holdings in Cadence Bank were worth $813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Wyoming purchased a new position in shares of Cadence Bank during the fourth quarter worth $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Cadence Bank during the third quarter worth $25,000. Fifth Third Bancorp raised its holdings in shares of Cadence Bank by 165.8% during the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock worth $31,000 after purchasing an additional 905 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Cadence Bank by 102.9% during the second quarter. Sunbelt Securities Inc. now owns 1,800 shares of the company’s stock worth $35,000 after purchasing an additional 913 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Cadence Bank by 189.8% during the first quarter. Covestor Ltd now owns 2,455 shares of the company’s stock worth $72,000 after purchasing an additional 1,608 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of CADE stock opened at $27.60 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day moving average is $27.55 and its two-hundred day moving average is $25.86. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45. The company has a market capitalization of $5.04 billion, a PE ratio of 9.48 and a beta of 1.02.

Cadence Bank (NYSE:CADEGet Free Report) last issued its earnings results on Monday, January 29th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The firm had revenue of $23.15 million for the quarter, compared to analysts’ expectations of $433.99 million. Analysts predict that Cadence Bank will post 2.42 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.62%. Cadence Bank’s payout ratio is 34.36%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CADE shares. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Hovde Group lowered shares of Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price target on the stock. in a research report on Tuesday, January 30th. TheStreet lowered shares of Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Raymond James dropped their price target on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 31st. Finally, Barclays initiated coverage on shares of Cadence Bank in a research report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.77.

Check Out Our Latest Stock Report on Cadence Bank

Cadence Bank Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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