Jackson Creek Investment Advisors LLC Makes New Investment in Cadence Bank $CADE

Jackson Creek Investment Advisors LLC acquired a new stake in Cadence Bank (NYSE:CADE) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 48,214 shares of the company’s stock, valued at approximately $1,810,000.

Other hedge funds also recently made changes to their positions in the company. Gamco Investors INC. ET AL lifted its position in shares of Cadence Bank by 77.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 148,550 shares of the company’s stock valued at $4,751,000 after buying an additional 64,690 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Cadence Bank by 59.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 117,552 shares of the company’s stock worth $4,413,000 after acquiring an additional 43,944 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Cadence Bank in the 2nd quarter valued at about $8,835,000. Nordea Investment Management AB lifted its holdings in Cadence Bank by 1.6% during the second quarter. Nordea Investment Management AB now owns 101,585 shares of the company’s stock valued at $3,266,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Cadence Bank by 125.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 209,194 shares of the company’s stock worth $7,853,000 after purchasing an additional 116,491 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Performance

NYSE CADE opened at $42.14 on Tuesday. The company’s 50 day simple moving average is $43.10 and its two-hundred day simple moving average is $39.13. 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. The stock 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 released its quarterly earnings results on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, beating 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 analyst estimates of $525.15 million. During the same period in the previous year, the business earned $0.70 EPS. Analysts predict that Cadence Bank will post 2.94 earnings per share 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. Shareholders of record on Friday, January 30th will be paid a $0.3438 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.38 dividend on an annualized basis and a yield of 3.3%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.28. Cadence Bank’s dividend payout ratio is currently 39.01%.

Analyst Upgrades and Downgrades

CADE has been the subject of several recent research reports. Barclays downgraded shares of Cadence Bank from an “overweight” rating to a “hold” rating in a research note on Tuesday, October 28th. Piper Sandler set a $40.00 price objective on shares of Cadence Bank and gave the company a “neutral” rating in a research note on Monday, October 27th. Morgan Stanley cut shares of Cadence Bank from an “overweight” rating to a “sell” rating in a report on Tuesday, October 28th. Royal Bank Of Canada raised Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Finally, Keefe, Bruyette & Woods cut Cadence Bank from a “moderate buy” rating to a “hold” rating and lifted their price target for the company from $41.00 to $49.00 in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.