Jackson Creek Investment Advisors LLC Makes New $1.49 Million Investment in Cadence Bank (NYSE:CADE)

Jackson Creek Investment Advisors LLC purchased a new stake in shares of Cadence Bank (NYSE:CADE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 43,161 shares of the company’s stock, valued at approximately $1,487,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC boosted its position in Cadence Bank by 1.2% in the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock worth $523,074,000 after purchasing an additional 195,773 shares during the last quarter. State Street Corp boosted its holdings in shares of Cadence Bank by 1.9% in the third quarter. State Street Corp now owns 8,872,085 shares of the company’s stock worth $284,759,000 after buying an additional 165,282 shares during the last quarter. Geode Capital Management LLC raised its position in Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after acquiring an additional 39,679 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Cadence Bank by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company’s stock worth $77,678,000 after acquiring an additional 12,309 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Cadence Bank by 7.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company’s stock valued at $76,986,000 after acquiring an additional 151,215 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Performance

CADE opened at $30.45 on Friday. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.99 and a beta of 0.96. Cadence Bank has a fifty-two week low of $26.16 and a fifty-two week high of $40.20. The company has a fifty day moving average of $34.34 and a 200 day moving average of $34.15.

Cadence Bank (NYSE:CADE) last issued its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business earned $0.40 EPS. On average, equities research analysts forecast that Cadence Bank will post 2.94 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. Investors of record on Friday, March 14th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.61%. Cadence Bank’s dividend payout ratio (DPR) is 39.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CADE. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Citigroup lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their price objective 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

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.