Teton Advisors Inc. Acquires Shares of 7,200 Cadence Bank (NYSE:CADE)

Teton Advisors Inc. acquired a new stake in Cadence Bank (NYSE:CADE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,200 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds also recently bought and sold shares of CADE. Rafferty Asset Management LLC grew its stake in shares of Cadence Bank by 66.6% in the 4th quarter. Rafferty Asset Management LLC now owns 331,932 shares of the company’s stock valued at $9,822,000 after buying an additional 132,672 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Cadence Bank in the 4th quarter valued at approximately $588,000. TFO Wealth Partners LLC grew its stake in shares of Cadence Bank by 162,585.7% in the 4th quarter. TFO Wealth Partners LLC now owns 11,388 shares of the company’s stock valued at $337,000 after buying an additional 11,381 shares during the period. Hsbc Holdings PLC grew its stake in shares of Cadence Bank by 22.5% in the 4th quarter. Hsbc Holdings PLC now owns 394,845 shares of the company’s stock valued at $11,801,000 after buying an additional 72,576 shares during the period. Finally, Linscomb & Williams Inc. grew its stake in shares of Cadence Bank by 51.0% in the 4th quarter. Linscomb & Williams Inc. now owns 71,572 shares of the company’s stock valued at $2,118,000 after buying an additional 24,162 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Hovde Group raised shares of Cadence Bank from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $32.50 to $33.00 in a research report on Wednesday, April 24th. Truist Financial increased their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Stephens reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Cadence Bank in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a research report on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.09.

Cadence Bank Stock Up 1.8 %

CADE stock traded up $0.50 during midday trading on Thursday, hitting $28.74. The company’s stock had a trading volume of 716,684 shares, compared to its average volume of 1,368,938. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Cadence Bank has a 52-week low of $16.95 and a 52-week high of $31.45. The firm has a market capitalization of $5.25 billion, a P/E ratio of 9.18 and a beta of 1.01. The firm has a 50-day simple moving average of $27.77 and a 200-day simple moving average of $26.79.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The business had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. During the same period last year, the business earned $0.68 EPS. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts forecast that Cadence Bank will post 2.48 EPS for the current year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.48%. Cadence Bank’s payout ratio is 31.95%.

About Cadence Bank

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.