Jackson Creek Investment Advisors LLC Purchases Shares of 43,161 Cadence Bank (NYSE:CADE)

Jackson Creek Investment Advisors LLC acquired a new position in Cadence Bank (NYSE:CADE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 43,161 shares of the company’s stock, valued at approximately $1,487,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Cadence Bank during the 4th quarter valued at $26,000. Mather Group LLC. raised its stake in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after acquiring an additional 709 shares during the last quarter. Keystone Financial Group Inc. purchased a new stake in shares of Cadence Bank during the fourth quarter worth about $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Cadence Bank in the third quarter worth about $32,000. Finally, Smartleaf Asset Management LLC increased its holdings in Cadence Bank by 163.7% during 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 period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Citigroup raised their target price 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. Keefe, Bruyette & Woods boosted their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.50.

Cadence Bank Trading Down 0.3 %

Shares of NYSE:CADE opened at $30.45 on Friday. The stock has a fifty day simple moving average of $34.34 and a two-hundred day simple moving average of $34.15. Cadence Bank has a 12-month low of $26.16 and a 12-month high of $40.20. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.99 and a beta of 0.96.

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

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.61%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is 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.