48,214 Shares in Cadence Bank $CADE Bought by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC purchased a new position in Cadence Bank (NYSE:CADE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,214 shares of the company’s stock, valued at approximately $1,810,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CADE. NorthCrest Asset Manangement LLC grew its stake in shares of Cadence Bank by 1.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 28,279 shares of the company’s stock valued at $1,105,000 after buying an additional 282 shares during the period. Osaic Holdings Inc. boosted its holdings in Cadence Bank by 24.4% in 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 in the last quarter. KLP Kapitalforvaltning AS grew its stake in Cadence Bank by 0.8% in the third quarter. KLP Kapitalforvaltning AS now owns 38,128 shares of the company’s stock valued at $1,440,000 after acquiring an additional 300 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Cadence Bank by 16.2% during the third quarter. Jones Financial Companies Lllp now owns 2,629 shares of the company’s stock valued at $99,000 after acquiring an additional 366 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its position in shares of Cadence Bank by 2.1% during the third quarter. Sheets Smith Wealth Management now owns 18,418 shares of the company’s stock worth $691,000 after purchasing an additional 378 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stephens cut Cadence Bank from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, January 21st. Morgan Stanley cut shares of Cadence Bank from an “overweight” rating to a “sell” rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods downgraded shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and boosted their target price for the stock from $41.00 to $49.00 in a research report on Monday, November 3rd. Finally, Barclays cut shares of Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Cadence Bank currently has an average rating of “Hold” and a consensus price target of $42.88.

Cadence Bank Stock Performance

NYSE CADE opened at $42.14 on Tuesday. The company has a fifty day moving average price of $43.10 and a 200-day moving average price of $39.13. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 14.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86. Cadence Bank has a 1 year low of $25.22 and a 1 year high of $46.74.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. Cadence Bank had a net margin of 18.12% and a return on equity of 10.16%. The business had revenue of $528.41 million for the quarter, compared to analysts’ expectations of $525.15 million. During the same period in the previous year, the company earned $0.70 earnings per share. As a group, equities research analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, January 30th will be issued a $0.3438 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.28. This represents a $1.38 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, January 30th. Cadence Bank’s dividend payout ratio is currently 39.01%.

Cadence Bank Company 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.