Farringdon Capital Ltd. Makes New $316,000 Investment in Cadence Bank (NYSE:CADE)

Farringdon Capital Ltd. bought a new stake in shares of Cadence Bank (NYSE:CADE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,186 shares of the company’s stock, valued at approximately $316,000.

A number of other hedge funds have also recently made changes to their positions in CADE. Vanguard Group Inc. raised its position in shares of Cadence Bank by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company’s stock worth $705,821,000 after purchasing an additional 191,717 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 valued at $77,678,000 after purchasing an additional 12,309 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Cadence Bank by 7.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company’s stock worth $76,986,000 after buying an additional 151,215 shares during the last quarter. Norges Bank bought a new position in shares of Cadence Bank in the fourth quarter worth approximately $71,915,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cadence Bank by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,836,594 shares of the company’s stock worth $63,271,000 after buying an additional 62,026 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Trading Down 0.2 %

Shares of NYSE:CADE opened at $27.84 on Friday. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The company has a market cap of $5.07 billion, a PE ratio of 10.05 and a beta of 0.87. The stock has a 50 day moving average of $30.44 and a 200 day moving average of $33.56.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 firm earned $0.40 earnings per share. Equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.275 dividend. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.95%. Cadence Bank’s dividend payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

CADE has been the topic of several analyst reports. Barclays lowered their price objective on Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Hovde Group lowered their target price on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 2nd. Citigroup lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Morgan Stanley dropped their target price on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $38.09.

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.