Teachers Retirement System of The State of Kentucky Increases Stake in Cadence Bank (NYSE:CADE)

Teachers Retirement System of The State of Kentucky grew its position in shares of Cadence Bank (NYSE:CADE) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,897 shares of the company’s stock after buying an additional 18,474 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.09% of Cadence Bank worth $4,760,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CADE. AlphaMark Advisors LLC grew its stake in shares of Cadence Bank by 6.8% during the 4th quarter. AlphaMark Advisors LLC now owns 11,482 shares of the company’s stock worth $340,000 after purchasing an additional 728 shares during the period. Retirement Systems of Alabama grew its stake in Cadence Bank by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 228,778 shares of the company’s stock valued at $6,770,000 after acquiring an additional 754 shares during the last quarter. Wolverine Asset Management LLC grew its stake in Cadence Bank by 952.0% in the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after acquiring an additional 952 shares during the last quarter. Ignite Planners LLC grew its stake in Cadence Bank by 5.6% in the 4th quarter. Ignite Planners LLC now owns 26,689 shares of the company’s stock valued at $787,000 after acquiring an additional 1,412 shares during the last quarter. Finally, Park Place Capital Corp grew its stake in Cadence Bank by 39.0% in the 4th quarter. Park Place Capital Corp now owns 7,989 shares of the company’s stock valued at $236,000 after acquiring an additional 2,242 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Trading Up 1.5 %

NYSE CADE opened at $27.33 on Tuesday. Cadence Bank has a one year low of $18.97 and a one year high of $31.45. The company’s 50 day moving average price is $28.25 and its 200 day moving average price is $28.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 8.73 and a beta of 0.99.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. During the same quarter last year, the firm posted $0.68 earnings per share. Cadence Bank’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts predict 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. Shareholders of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, June 14th. Cadence Bank’s dividend payout ratio (DPR) is 31.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays increased their price objective on shares of Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price target on shares of Cadence Bank in a research note on Tuesday, April 9th. Truist Financial raised their price target on shares of Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Stephens reaffirmed an “overweight” rating and set a $33.00 price target on shares of Cadence Bank in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group decreased their price target on shares of Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.09.

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.