Focus Partners Advisor Solutions LLC Makes New Investment in Cadence Bank (NYSE:CADE)

Focus Partners Advisor Solutions LLC acquired a new position in Cadence Bank (NYSE:CADE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 20,039 shares of the company's stock, valued at approximately $690,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company's stock valued at $28,000 after purchasing an additional 709 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in Cadence Bank during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC grew its stake 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 acquiring an additional 722 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Cadence Bank by 504.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company's stock valued at $59,000 after acquiring an additional 1,434 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Cadence Bank by 1,601.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,718 shares of the company's stock valued at $59,000 after purchasing an additional 1,617 shares during the period. 84.61% of the stock is owned by institutional investors.

Cadence Bank Stock Performance

Shares of NYSE:CADE traded up $0.20 during midday trading on Thursday, hitting $30.43. The company's stock had a trading volume of 262,471 shares, compared to its average volume of 1,300,180. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 10.99 and a beta of 0.84. The stock's 50 day simple moving average is $29.57 and its 200 day simple moving average is $33.00. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Monday, April 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. The business had revenue of $448.55 million for the quarter, compared to the consensus estimate of $451.61 million. During the same period in the previous year, the business earned $0.62 EPS. As a group, analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, June 13th. Cadence Bank's dividend payout ratio (DPR) is currently 38.60%.

Cadence Bank declared that its board has authorized a share buyback plan on Friday, April 25th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on CADE. Barclays lowered their price objective on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler cut their price objective on Cadence Bank from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada cut their price objective on Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Morgan Stanley cut their price objective on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cadence Bank presently has an average rating of "Moderate Buy" and a consensus target price of $36.82.

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.