Dynamic Technology Lab Private Ltd Purchases 21,210 Shares of Cadence Bank (NYSE:CADE)

Dynamic Technology Lab Private Ltd boosted its position in shares of Cadence Bank (NYSE:CADE) by 137.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,664 shares of the company’s stock after purchasing an additional 21,210 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Cadence Bank were worth $1,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake 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 valued at $138,974,000 after purchasing an additional 39,679 shares during the period. Stifel Financial Corp boosted its position in Cadence Bank by 18.1% in the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after buying an additional 3,218 shares during the period. Victory Capital Management Inc. grew its stake in Cadence Bank by 1.4% in the 4th quarter. Victory Capital Management Inc. now owns 50,453 shares of the company’s stock worth $1,738,000 after acquiring an additional 685 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Cadence Bank during the third quarter worth approximately $947,000. Finally, Charles Schwab Investment Management Inc. raised its stake 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 valued at $77,678,000 after acquiring an additional 12,309 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CADE. Barclays raised 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 research note on Thursday, December 19th. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Morgan Stanley lowered their price objective 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. Hovde Group cut their target price on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.64.

Cadence Bank Stock Down 4.3 %

NYSE CADE opened at $26.39 on Friday. Cadence Bank has a 52 week low of $25.25 and a 52 week high of $40.20. The company has a 50 day moving average price of $32.29 and a 200 day moving average price of $33.94. The firm has a market cap of $4.81 billion, a PE ratio of 9.53 and a beta of 0.87.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $0.40 earnings per share. On average, equities research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was 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 currently 39.71%.

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.