Advantage Alpha Capital Partners LP Increases Stock Holdings in Cadence Bank (NYSE:CADE)

Advantage Alpha Capital Partners LP increased its stake in Cadence Bank (NYSE:CADE) by 12.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,689 shares of the company’s stock after acquiring an additional 1,990 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Cadence Bank were worth $609,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CADE. Vanguard Group Inc. lifted its position in shares of Cadence Bank by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company’s stock valued at $705,821,000 after acquiring an additional 191,717 shares in the last quarter. FMR LLC lifted its holdings in Cadence Bank by 1.2% in the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after purchasing an additional 195,773 shares in the last quarter. State Street Corp boosted its stake in Cadence Bank by 1.9% during the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company’s stock worth $284,759,000 after purchasing an additional 165,282 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cadence Bank by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after buying an additional 39,679 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cadence Bank by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company’s stock worth $77,678,000 after buying an additional 12,309 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Stock Up 3.5 %

Shares of Cadence Bank stock opened at $31.38 on Tuesday. The firm has a market cap 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. The business’s fifty day simple moving average is $33.29 and its 200-day simple moving average is $34.03.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating 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 previous year, the company earned $0.40 EPS. As a group, equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced 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. This represents a $1.10 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is 39.71%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Morgan Stanley cut their price target on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and an average target price of $38.77.

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.