Dana Investment Advisors Inc. lifted its stake in Cadence Bancorp (NYSE:CADE) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,943 shares of the company’s stock after purchasing an additional 14,992 shares during the period. Dana Investment Advisors Inc. owned approximately 0.14% of Cadence Bancorp worth $1,895,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. QS Investors LLC raised its position in shares of Cadence Bancorp by 97.6% in the fourth quarter. QS Investors LLC now owns 117,914 shares of the company’s stock valued at $1,979,000 after buying an additional 58,250 shares during the last quarter. Mendon Capital Advisors Corp raised its position in shares of Cadence Bancorp by 77.3% in the fourth quarter. Mendon Capital Advisors Corp now owns 256,655 shares of the company’s stock valued at $4,307,000 after buying an additional 111,915 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cadence Bancorp by 71.7% in the fourth quarter. Geode Capital Management LLC now owns 1,263,456 shares of the company’s stock valued at $21,200,000 after buying an additional 527,759 shares during the last quarter. Sapience Investments LLC acquired a new position in shares of Cadence Bancorp in the fourth quarter valued at approximately $7,293,000. Finally, Brown Advisory Inc. acquired a new position in shares of Cadence Bancorp in the fourth quarter valued at approximately $407,000.
Cadence Bancorp stock opened at $19.73 on Friday. Cadence Bancorp has a 1 year low of $16.13 and a 1 year high of $31.44. The company has a market capitalization of $1.61 billion, a P/E ratio of 9.53 and a beta of 1.49. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.33.
Cadence Bancorp (NYSE:CADE) last released its earnings results on Monday, January 28th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Cadence Bancorp had a net margin of 27.38% and a return on equity of 12.68%. The company had revenue of $124.15 million during the quarter, compared to analysts’ expectations of $123.44 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Cadence Bancorp’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts predict that Cadence Bancorp will post 2.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.175 per share. This is an increase from Cadence Bancorp’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 3.55%. The ex-dividend date was Thursday, February 28th. Cadence Bancorp’s payout ratio is currently 33.82%.
A number of research firms recently issued reports on CADE. Zacks Investment Research upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday. Raymond James boosted their target price on shares of Cadence Bancorp from $24.00 to $25.00 and gave the company a “strong-buy” rating in a report on Tuesday, March 5th. Goldman Sachs Group began coverage on shares of Cadence Bancorp in a report on Tuesday, March 5th. They issued a “buy” rating and a $23.00 target price for the company. Stephens restated a “buy” rating and issued a $25.00 target price on shares of Cadence Bancorp in a report on Tuesday, January 29th. Finally, TheStreet downgraded shares of Cadence Bancorp from a “c-” rating to a “d+” rating in a report on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.90.
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Cadence Bancorp Company Profile
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.
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