Nkcfo LLC Invests $1.99 Million in Cadence Bank $CADE

Nkcfo LLC purchased a new stake in Cadence Bank (NYSE:CADE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 53,050 shares of the company’s stock, valued at approximately $1,991,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CADE. NorthCrest Asset Manangement LLC lifted its holdings in shares of Cadence Bank by 1.0% during the third quarter. NorthCrest Asset Manangement LLC now owns 28,279 shares of the company’s stock worth $1,105,000 after buying an additional 282 shares in the last quarter. Osaic Holdings Inc. increased its position in Cadence Bank by 24.4% during the second quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock worth $46,000 after acquiring an additional 283 shares during the period. KLP Kapitalforvaltning AS raised its stake in Cadence Bank by 0.8% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 38,128 shares of the company’s stock worth $1,440,000 after purchasing an additional 300 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Cadence Bank by 4.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock valued at $301,000 after purchasing an additional 326 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Cadence Bank by 16.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,629 shares of the company’s stock valued at $99,000 after purchasing an additional 366 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Stock Performance

NYSE:CADE opened at $42.14 on Tuesday. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $46.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $43.28 and its 200 day simple moving average is $39.87. The firm has a market capitalization of $7.68 billion, a PE ratio of 14.94 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last posted its earnings results on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. Cadence Bank had a net margin of 18.12% and a return on equity of 10.16%. The firm had revenue of $528.41 million during the quarter, compared to analysts’ expectations of $525.15 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, January 30th were paid a dividend of $0.3438 per share. The ex-dividend date of this dividend was Friday, January 30th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.28. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.3%. Cadence Bank’s payout ratio is presently 39.01%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, January 21st. Barclays lowered Cadence Bank from an “overweight” rating to a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley downgraded Cadence Bank from an “overweight” rating to a “sell” rating in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods lowered Cadence Bank from a “moderate buy” rating to a “hold” rating and increased their target price for the stock from $41.00 to $49.00 in a report on Monday, November 3rd. Finally, Royal Bank Of Canada raised Cadence Bank from a “hold” rating to a “moderate buy” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.88.

Cadence Bank Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.