Cadence Bank Has $23 Million Stock Position in Cadence Bank (NYSE:CADE)

Cadence Bank lessened its holdings in Cadence Bank (NYSE:CADE) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 667,663 shares of the company’s stock after selling 87,250 shares during the period. Cadence Bank comprises 1.6% of Cadence Bank’s investment portfolio, making the stock its 11th biggest holding. Cadence Bank owned 0.37% of Cadence Bank worth $23,001,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CADE. Brooklyn Investment Group purchased a new stake in shares of Cadence Bank in the fourth quarter worth approximately $26,000. Mather Group LLC. grew its holdings in Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after buying an additional 709 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in Cadence Bank in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC raised its position in Cadence Bank by 163.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after buying an additional 722 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Cadence Bank by 504.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CADE shares. Barclays lowered their target price on shares of Cadence Bank from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Hovde Group decreased their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Finally, Morgan Stanley dropped their price target on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.09.

Cadence Bank Price Performance

NYSE:CADE opened at $27.84 on Friday. The company has a market capitalization of $5.07 billion, a P/E ratio of 10.05 and a beta of 0.87. The business has a fifty day simple moving average of $30.59 and a two-hundred day simple moving average of $33.58. Cadence Bank has a 1 year low of $25.22 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the prior year, the business posted $0.40 earnings per share. As a group, analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.95%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is 39.71%.

Cadence Bank Company Profile

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.