Cadence Bancorporation (NYSE:CADE) announced a quarterly dividend on Friday, October 8th, Fidelity reports. Stockholders of record on Monday, October 18th will be given a dividend of 0.158 per share on Friday, October 22nd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, October 15th. This is a positive change from Cadence Bancorporation’s previous quarterly dividend of $0.15.
Cadence Bancorporation has a dividend payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Cadence Bancorporation to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 29.8%.
NYSE:CADE opened at $22.60 on Thursday. The firm’s fifty day moving average is $21.29 and its two-hundred day moving average is $21.27. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 6.28 and a beta of 1.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.85. Cadence Bancorporation has a one year low of $10.01 and a one year high of $23.88.
A hedge fund recently raised its stake in Cadence Bancorporation stock. Morgan Stanley grew its position in shares of Cadence Bancorporation (NYSE:CADE) by 82.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 814,180 shares of the company’s stock after purchasing an additional 366,767 shares during the period. Morgan Stanley owned approximately 0.65% of Cadence Bancorporation worth $17,001,000 as of its most recent SEC filing. 92.00% of the stock is owned by institutional investors.
Several brokerages recently commented on CADE. Zacks Investment Research lowered shares of Cadence Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 5th. Raymond James raised shares of Cadence Bancorporation from an “outperform” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, August 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bancorporation has an average rating of “Hold” and a consensus target price of $24.60.
About Cadence Bancorporation
Cadence Bancorp. is a bank holding company, which engages in the provision of corporations, middle-market companies, small businesses, and consumers with banking and financial solutions through its subsidiary, Cadence Bank NA. It operates through the following segments: Banking, Financial Services, and Corporate.
Further Reading: When can a hold rating present a buying opportunity?
Receive News & Ratings for Cadence Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.