Cadence Bank (NYSE:CADE) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cadence Bank (NYSE:CADE) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,154 shares of the company’s stock after acquiring an additional 8,173 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cadence Bank were worth $1,762,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CADE. Brooklyn Investment Group acquired a new position in Cadence Bank in the 4th quarter valued at about $26,000. Mather Group LLC. grew its position in Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after acquiring an additional 709 shares in the last quarter. Keystone Financial Group Inc. purchased a new position in shares of Cadence Bank in the 4th quarter valued at about $31,000. Point72 Hong Kong Ltd purchased a new position in shares of Cadence Bank in the 3rd quarter valued at about $32,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Cadence Bank by 163.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after buying an additional 722 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Trading Up 1.5 %

Shares of NYSE CADE opened at $30.30 on Tuesday. Cadence Bank has a twelve month low of $26.16 and a twelve month high of $40.20. The stock has a 50 day moving average of $33.68 and a two-hundred day moving average of $34.08. The stock has a market cap of $5.52 billion, a P/E ratio of 10.94 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data 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 9.87% and a net margin of 18.03%. During the same period in the previous year, the company earned $0.40 earnings per share. As a group, research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.63%. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is currently 39.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Finally, Morgan Stanley decreased their target price on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Cadence Bank has an average rating of “Moderate Buy” and an average price target of $38.77.

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.