Signaturefd LLC Decreases Position in Cadence Bank (NYSE:CADE)

Signaturefd LLC lowered its holdings in Cadence Bank (NYSE:CADE) by 44.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,797 shares of the company’s stock after selling 11,998 shares during the period. Signaturefd LLC’s holdings in Cadence Bank were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CADE. Wellington Management Group LLP boosted its holdings in Cadence Bank by 15.7% in the third quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company’s stock valued at $166,110,000 after purchasing an additional 1,063,055 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Cadence Bank by 81.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,532,423 shares of the company’s stock valued at $45,344,000 after purchasing an additional 687,025 shares during the last quarter. American Century Companies Inc. boosted its holdings in Cadence Bank by 35.7% in the third quarter. American Century Companies Inc. now owns 1,258,097 shares of the company’s stock valued at $26,697,000 after purchasing an additional 331,097 shares during the last quarter. Comerica Bank purchased a new position in Cadence Bank in the third quarter valued at about $5,177,000. Finally, Graham Capital Management L.P. purchased a new position in Cadence Bank in the third quarter valued at about $3,765,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Up 1.7 %

Shares of Cadence Bank stock opened at $29.37 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $27.68 and its 200-day simple moving average is $26.53. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.38 and a beta of 1.02. Cadence Bank has a twelve month low of $16.95 and a twelve month high of $31.45.

Cadence Bank (NYSE:CADE) last posted its earnings results on Tuesday, April 23rd. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Cadence Bank had a return on equity of 9.22% and a net margin of 23.83%. The firm had revenue of $437.69 million for the quarter, compared to analysts’ expectations of $427.18 million. During the same period last year, the firm earned $0.68 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Cadence Bank will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price target on shares of Cadence Bank in a report on Tuesday, April 9th. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th. Citigroup increased their target price on Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Morgan Stanley increased their target price on Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Hovde Group raised Cadence Bank from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $32.50 to $33.00 in a report on Wednesday. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.09.

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.