Teton Advisors Inc. Takes $213,000 Position in Cadence Bank (NYSE:CADE)

Teton Advisors Inc. bought a new stake in Cadence Bank (NYSE:CADE) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 7,200 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Cadence Bank by 165.8% in the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after buying an additional 905 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Cadence Bank by 952.0% in the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after buying an additional 952 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Cadence Bank by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after buying an additional 524 shares during the last quarter. Hardy Reed LLC bought a new position in shares of Cadence Bank in the third quarter valued at about $203,000. Finally, Moody Lynn & Lieberson LLC bought a new position in shares of Cadence Bank in the fourth quarter valued at about $205,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Trading Up 1.8 %

Shares of CADE stock traded up $0.50 on Thursday, reaching $28.74. The company had a trading volume of 716,684 shares, compared to its average volume of 1,368,938. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $5.25 billion, a PE ratio of 9.18 and a beta of 1.01. The company has a 50-day moving average of $27.77 and a 200-day moving average of $26.79. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45.

Cadence Bank (NYSE:CADE) last posted its earnings results on Friday, April 26th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The business had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. During the same period in the prior year, the business earned $0.68 EPS. Cadence Bank’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts forecast that Cadence Bank will post 2.48 earnings per share for the current year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.48%. Cadence Bank’s payout ratio is 31.95%.

Analyst Ratings Changes

A number of research firms recently issued reports on CADE. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 price target on shares of Cadence Bank in a report on Tuesday, April 9th. Raymond James cut their target price on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 31st. Barclays upped their target price on shares of Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Hovde Group upgraded shares of Cadence Bank from a “market perform” rating to an “outperform” rating and upped their target price for the company from $32.50 to $33.00 in a research report on Wednesday, April 24th. Finally, TheStreet downgraded shares of Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus price target of $31.09.

About Cadence Bank

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.