Fuller & Thaler Asset Management Inc. Reduces Stock Position in Cadence Bank (NYSE:CADE)

Fuller & Thaler Asset Management Inc. reduced its holdings in shares of Cadence Bank (NYSE:CADE) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,425,962 shares of the company’s stock after selling 29,148 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 1.88% of Cadence Bank worth $118,024,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CADE. Stifel Financial Corp boosted its stake in Cadence Bank by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after acquiring an additional 3,218 shares during the last quarter. Barclays PLC raised its stake in shares of Cadence Bank by 63.7% in the 3rd quarter. Barclays PLC now owns 441,669 shares of the company’s stock valued at $14,067,000 after purchasing an additional 171,940 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Cadence Bank by 8.1% during the third quarter. Tidal Investments LLC now owns 9,769 shares of the company’s stock worth $311,000 after purchasing an additional 730 shares during the last quarter. Synovus Financial Corp acquired a new position in Cadence Bank in the third quarter worth about $848,000. Finally, Franklin Resources Inc. acquired a new position in Cadence Bank in the third quarter worth about $947,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CADE has been the subject of several research reports. Hovde Group decreased their target price on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a research report on Wednesday, April 2nd. Citigroup raised their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. 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 research note on Tuesday, April 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Cadence Bank in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $37.91.

Cadence Bank Trading Up 1.2 %

Shares of NYSE CADE opened at $27.92 on Wednesday. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The company has a market cap of $5.09 billion, a PE ratio of 10.08 and a beta of 0.87. The stock has a 50 day simple moving average of $30.15 and a 200-day simple moving average of $33.54.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, April 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $448.55 million during the quarter, compared to analyst estimates of $451.61 million. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the previous year, the firm posted $0.62 EPS. Sell-side analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

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.