HighTower Advisors LLC Purchases 1,325 Shares of Cadence Bank (NYSE:CADE)

HighTower Advisors LLC increased its position in shares of Cadence Bank (NYSE:CADE) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,265 shares of the company’s stock after purchasing an additional 1,325 shares during the quarter. HighTower Advisors LLC’s holdings in Cadence Bank were worth $1,559,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Cadence Bank during the fourth quarter worth about $26,000. Mather Group LLC. boosted its holdings in shares of Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after acquiring an additional 709 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in Cadence Bank during the 4th quarter worth approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in Cadence Bank during the 3rd quarter valued at $32,000. Finally, Smartleaf Asset Management LLC raised its position in 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 purchasing an additional 722 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Stock Performance

CADE opened at $31.38 on Tuesday. The company has a fifty day moving average price of $33.29 and a two-hundred day moving average price of $34.03. The firm has a market capitalization of $5.72 billion, a PE ratio of 11.33 and a beta of 0.96. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $0.40 earnings per share. Equities analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.51%. Cadence Bank’s dividend payout ratio is 39.71%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Keefe, Bruyette & Woods increased their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Morgan Stanley dropped their target price 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. Citigroup increased their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Cadence Bank currently has a consensus rating of “Moderate Buy” and a consensus 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.