Metropolitan Life Insurance Co NY grew its stake in shares of Cadence Bancorp (NYSE:CADE) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,614 shares of the company’s stock after purchasing an additional 2,082 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Cadence Bancorp were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in Cadence Bancorp by 6.6% in the 3rd quarter. State Street Corp now owns 5,282,157 shares of the company’s stock valued at $92,649,000 after purchasing an additional 328,146 shares during the period. JPMorgan Chase & Co. raised its holdings in Cadence Bancorp by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 4,535,773 shares of the company’s stock worth $93,164,000 after buying an additional 90,196 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Cadence Bancorp by 6.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,777,476 shares of the company’s stock valued at $66,257,000 after buying an additional 239,958 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Cadence Bancorp by 1.4% in the second quarter. Earnest Partners LLC now owns 3,395,699 shares of the company’s stock valued at $70,631,000 after buying an additional 48,385 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Cadence Bancorp by 5.1% during the first quarter. FMR LLC now owns 2,703,959 shares of the company’s stock valued at $50,158,000 after buying an additional 131,997 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.
In other Cadence Bancorp news, Director Joseph W. Evans acquired 20,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $16.49 per share, with a total value of $329,800.00. Also, COO Samuel M. Tortorici acquired 6,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $101,920.00. Following the transaction, the chief operating officer now owns 150,786 shares of the company’s stock, valued at approximately $2,364,324.48. The disclosure for this purchase can be found here. Insiders acquired a total of 37,378 shares of company stock valued at $606,289 over the last ninety days. 3.34% of the stock is currently owned by insiders.
NYSE CADE opened at $16.58 on Tuesday. Cadence Bancorp has a 1 year low of $14.66 and a 1 year high of $23.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 9.18 and a beta of 1.82. The company has a fifty day moving average price of $16.30 and a 200-day moving average price of $17.48.
Cadence Bancorp (NYSE:CADE) last announced its earnings results on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.15). Cadence Bancorp had a net margin of 20.00% and a return on equity of 9.81%. The firm had revenue of $194.83 million during the quarter, compared to analysts’ expectations of $191.73 million. During the same quarter in the prior year, the company earned $0.56 EPS. On average, research analysts anticipate that Cadence Bancorp will post 1.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Cadence Bancorp’s payout ratio is 33.82%.
Cadence Bancorp Company Profile
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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