Journey Strategic Wealth LLC Takes $215,000 Position in Cadence Bank (NYSE:CADE)

Journey Strategic Wealth LLC bought a new stake in Cadence Bank (NYSE:CADE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 6,241 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Cadence Bank in the 3rd quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in Cadence Bank in the 4th quarter valued at $26,000. Point72 Hong Kong Ltd purchased a new stake in Cadence Bank in the 3rd quarter valued at $32,000. GAMMA Investing LLC raised its position in Cadence Bank by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock valued at $50,000 after purchasing an additional 559 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in Cadence Bank by 23.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock valued at $158,000 after purchasing an additional 926 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Down 2.4 %

NYSE:CADE opened at $34.37 on Tuesday. Cadence Bank has a fifty-two week low of $24.99 and a fifty-two week high of $40.20. The stock has a market cap of $6.26 billion, a PE ratio of 12.41 and a beta of 0.99. The firm’s fifty day simple moving average is $35.63 and its 200-day simple moving average is $33.76.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts anticipate that Cadence Bank will post 2.92 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio (DPR) is 36.10%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CADE shares. Keefe, Bruyette & Woods upped their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson upped their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Citigroup upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

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.