Swiss National Bank Purchases 2,700 Shares of Cadence Bank (NYSE:CADE)

Swiss National Bank grew its position in Cadence Bank (NYSE:CADE) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 359,453 shares of the company’s stock after purchasing an additional 2,700 shares during the period. Swiss National Bank owned approximately 0.20% of Cadence Bank worth $12,383,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CADE. Morgan Stanley reduced 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. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Citigroup upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.77.

Cadence Bank Stock Performance

NYSE CADE opened at $30.66 on Thursday. The stock has a market cap of $5.59 billion, a PE ratio of 11.07 and a beta of 0.96. The firm has a 50-day moving average of $33.51 and a 200-day moving average of $34.04. Cadence Bank has a 52-week low of $26.16 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm earned $0.40 earnings per share. As a group, analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.275 per share. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.59%. Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%.

Cadence Bank 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.