Public Employees Retirement Association of Colorado Has $989,000 Stock Holdings in Cadence Bank (NYSE:CADE)

Public Employees Retirement Association of Colorado grew its position in shares of Cadence Bank (NYSE:CADEGet Rating) by 112.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,214 shares of the company’s stock after purchasing an additional 17,603 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Cadence Bank were worth $989,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd acquired a new stake in shares of Cadence Bank during the fourth quarter valued at about $25,000. Founders Capital Management acquired a new stake in shares of Cadence Bank during the fourth quarter valued at about $30,000. Quadrant Capital Group LLC acquired a new stake in shares of Cadence Bank during the fourth quarter valued at about $30,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Cadence Bank during the fourth quarter valued at about $34,000. Finally, Signaturefd LLC boosted its stake in shares of Cadence Bank by 1,920.4% during the fourth quarter. Signaturefd LLC now owns 1,980 shares of the company’s stock valued at $59,000 after purchasing an additional 1,882 shares in the last quarter. 71.03% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on CADE. TheStreet lowered Cadence Bank from a “b” rating to a “c+” rating in a research note on Wednesday, April 13th. Raymond James lifted their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 27th. Finally, Zacks Investment Research lowered Cadence Bank from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cadence Bank has a consensus rating of “Buy” and an average price target of $36.40.

Shares of CADE stock opened at $25.39 on Friday. The company has a market cap of $2.76 billion, a P/E ratio of 14.76 and a beta of 1.05. The stock has a 50 day simple moving average of $27.35 and a two-hundred day simple moving average of $29.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.69 and a current ratio of 0.69. Cadence Bank has a fifty-two week low of $24.39 and a fifty-two week high of $34.24.

Cadence Bank (NYSE:CADEGet Rating) last issued its earnings results on Monday, April 25th. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The business had revenue of $440.26 million during the quarter, compared to the consensus estimate of $427.57 million. Cadence Bank had a return on equity of 10.63% and a net margin of 15.87%. During the same period in the previous year, the company posted $0.73 earnings per share. On average, research analysts predict that Cadence Bank will post 2.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.47%. Cadence Bank’s dividend payout ratio is 51.16%.

Cadence Bank Company Profile (Get Rating)

Cadence Bank provides commercial banking and financial services in the United States. 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.

Further Reading

Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Bank (NYSE:CADEGet Rating).

Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter.