Intech Investment Management LLC Acquires 35,368 Shares of Cadence Bank (NYSE:CADE)

Intech Investment Management LLC boosted its position in Cadence Bank (NYSE:CADE) by 62.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 91,820 shares of the company’s stock after purchasing an additional 35,368 shares during the period. Intech Investment Management LLC’s holdings in Cadence Bank were worth $3,163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Cadence Bank in the fourth quarter valued at $26,000. Mather Group LLC. lifted its holdings in Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after buying an additional 709 shares during the period. Keystone Financial Group Inc. acquired a new position in Cadence Bank in the fourth quarter valued at $31,000. Point72 Hong Kong Ltd acquired a new position in Cadence Bank in the third quarter valued at $32,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Cadence Bank by 163.7% in the fourth 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. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

CADE has been the subject of a number of recent analyst reports. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Finally, Citigroup upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Cadence Bank Trading Up 1.3 %

CADE opened at $30.66 on Thursday. The company has a 50 day moving average of $33.51 and a 200 day moving average of $34.04. The company has a market cap of $5.59 billion, a PE ratio of 11.07 and a beta of 0.96. Cadence Bank has a 12 month low of $26.16 and a 12 month high of $40.20.

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

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.59%. Cadence Bank’s dividend payout ratio (DPR) is 39.71%.

About Cadence Bank

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.