Prudential Financial Inc. purchased a new position in shares of Cadence Bancorp (NYSE:CADE) in the 4th quarter, Holdings Channel reports. The firm purchased 182,330 shares of the company’s stock, valued at approximately $3,059,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Investors Inc. PA boosted its holdings in shares of Cadence Bancorp by 0.6% in the 3rd quarter. Federated Investors Inc. PA now owns 147,447 shares of the company’s stock valued at $3,852,000 after buying an additional 926 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in Cadence Bancorp by 3.6% during the 4th quarter. Bowling Portfolio Management LLC now owns 35,260 shares of the company’s stock worth $592,000 after purchasing an additional 1,224 shares during the period. Bank of Montreal Can boosted its stake in Cadence Bancorp by 205.4% during the 4th quarter. Bank of Montreal Can now owns 2,559 shares of the company’s stock worth $43,000 after purchasing an additional 1,721 shares during the period. Caz Investments LP acquired a new stake in Cadence Bancorp during the 4th quarter worth $34,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cadence Bancorp by 71.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,075 shares of the company’s stock worth $85,000 after buying an additional 2,114 shares during the last quarter.

Shares of CADE opened at $19.73 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.61 billion, a PE ratio of 9.53 and a beta of 1.49. Cadence Bancorp has a 52-week low of $16.13 and a 52-week high of $31.44.

Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings results on Monday, January 28th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.04). The company had revenue of $124.15 million during the quarter, compared to analysts’ expectations of $123.44 million. Cadence Bancorp had a net margin of 27.38% and a return on equity of 12.68%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. On average, equities research analysts forecast that Cadence Bancorp will post 2.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.175 per share. This is an increase from Cadence Bancorp’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 3.55%. The ex-dividend date was Thursday, February 28th. Cadence Bancorp’s dividend payout ratio (DPR) is 33.82%.

A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Cadence Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, November 30th. Raymond James upped their price objective on shares of Cadence Bancorp from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 5th. Goldman Sachs Group assumed coverage on shares of Cadence Bancorp in a research report on Tuesday, March 5th. They set a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday. Finally, Robert W. Baird cut their price target on shares of Cadence Bancorp from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, December 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $25.90.

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About Cadence Bancorp

Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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Institutional Ownership by Quarter for Cadence Bancorp (NYSE:CADE)

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