Levin Capital Strategies L.P. decreased its stake in Cadence Bancorp (NYSE:CADE) by 86.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,227 shares of the company’s stock after selling 707,617 shares during the quarter. Levin Capital Strategies L.P. owned about 0.13% of Cadence Bancorp worth $3,044,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in CADE. Schwab Charles Investment Management Inc. purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth approximately $368,000. Bank of New York Mellon Corp purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth approximately $531,000. Teachers Advisors LLC purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth approximately $516,000. TIAA CREF Investment Management LLC purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth approximately $523,000. Finally, Nationwide Fund Advisors purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth approximately $305,000. Hedge funds and other institutional investors own 10.80% of the company’s stock.
Cadence Bancorp (NYSE CADE) opened at $28.09 on Friday. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $28.77. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2,341.50 and a price-to-earnings ratio of 18.92.
The firm also recently disclosed a special dividend, which will be paid on Tuesday, March 20th. Investors of record on Thursday, March 1st will be issued a dividend of $0.125 per share. This represents a yield of 0.00441540091840339%. The ex-dividend date of this dividend is Wednesday, February 28th.
A number of equities analysts have recently commented on the company. Stephens reiterated a “buy” rating and issued a $32.00 target price on shares of Cadence Bancorp in a report on Friday, January 26th. ValuEngine upgraded Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 5th. SunTrust Banks restated a “hold” rating and set a $28.00 price objective on shares of Cadence Bancorp in a report on Tuesday, January 9th. Finally, BidaskClub upgraded Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $27.38.
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Cadence Bancorp Company Profile
Cadence Bancorporation is a bank holding company. The Company is focused on middle-market commercial lending, complemented by retail banking and wealth management services, and provides a broad range of banking services to businesses, individuals and business owners. It operates through three segments: Banking, Financial Services and Corporate.
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