Jones Financial Companies Lllp Increases Stake in Cadence Bank (NYSE:CADE)

Jones Financial Companies Lllp increased its position in Cadence Bank (NYSE:CADE) by 1,601.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,718 shares of the company’s stock after acquiring an additional 1,617 shares during the quarter. Jones Financial Companies Lllp’s holdings in Cadence Bank were worth $59,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares during the period. Natixis Advisors LLC boosted its stake in Cadence Bank by 15.9% in the 3rd quarter. Natixis Advisors LLC now owns 486,122 shares of the company’s stock worth $15,483,000 after purchasing an additional 66,747 shares during the period. Atlanta Consulting Group Advisors LLC bought a new position in Cadence Bank in the 3rd quarter worth about $220,000. MAI Capital Management boosted its stake in Cadence Bank by 132.9% in the 3rd quarter. MAI Capital Management now owns 41,685 shares of the company’s stock worth $1,328,000 after purchasing an additional 23,790 shares during the period. Finally, Quest Partners LLC boosted its stake in Cadence Bank by 390,500.0% in the 3rd quarter. Quest Partners LLC now owns 7,812 shares of the company’s stock worth $249,000 after purchasing an additional 7,810 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

NYSE:CADE opened at $30.30 on Tuesday. The business has a 50 day moving average of $33.68 and a 200 day moving average of $34.08. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 10.94 and a beta of 0.96. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share 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 period in the prior year, the business posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.275 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s payout ratio is 39.71%.

Analyst Upgrades and Downgrades

CADE has been the subject of several analyst reports. Citigroup raised their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.77.

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.