Cadence Bank (NYSE:CADE) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its position in Cadence Bank (NYSE:CADE) by 66.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,636 shares of the company’s stock after selling 7,272 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Cadence Bank were worth $109,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in Cadence Bank in the 3rd quarter valued at $25,000. State of Wyoming purchased a new position in shares of Cadence Bank in the 4th quarter valued at about $25,000. Fifth Third Bancorp increased its holdings in shares of Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after purchasing an additional 905 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Cadence Bank by 102.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,800 shares of the company’s stock valued at $35,000 after purchasing an additional 913 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its holdings in shares of Cadence Bank by 166.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 3,674 shares of the company’s stock valued at $72,000 after purchasing an additional 2,296 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CADE. Stephens reiterated an “overweight” rating and issued a $32.00 price target on shares of Cadence Bank in a report on Tuesday, January 30th. Raymond James lowered their price objective on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 31st. Truist Financial increased their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, April 1st. TheStreet cut shares of Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. Finally, Barclays began coverage on shares of Cadence Bank in a research note on Friday, March 8th. They issued an “equal weight” rating and a $28.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cadence Bank has an average rating of “Moderate Buy” and an average price target of $30.65.

Cadence Bank Price Performance

Cadence Bank stock opened at $26.61 on Thursday. Cadence Bank has a 12-month low of $16.95 and a 12-month high of $31.45. The stock has a market capitalization of $4.86 billion, a P/E ratio of 9.14 and a beta of 1.02. The firm’s 50-day moving average is $27.54 and its two-hundred day moving average is $26.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.85.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Monday, January 29th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.13). Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The firm had revenue of $23.15 million for the quarter, compared to analyst estimates of $433.99 million. Equities analysts predict that Cadence Bank will post 2.38 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.25 per share. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, March 14th. Cadence Bank’s dividend payout ratio is presently 34.36%.

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.