Cadence Bank (NYSE:CADE) Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in Cadence Bank (NYSE:CADE) by 17.1% during the 4th quarter, Holdings Channel reports. The fund owned 38,950 shares of the company’s stock after selling 8,040 shares during the quarter. LSV Asset Management’s holdings in Cadence Bank were worth $1,153,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position 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 buying an additional 905 shares during the last quarter. Wolverine Asset Management LLC raised its position in Cadence Bank by 952.0% in the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 952 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Cadence Bank by 8.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock worth $142,000 after purchasing an additional 524 shares during the period. Hardy Reed LLC purchased a new position in Cadence Bank during the 3rd quarter worth $203,000. Finally, Moody Lynn & Lieberson LLC purchased a new stake in shares of Cadence Bank in the fourth quarter valued at about $205,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 target price on shares of Cadence Bank in a research note on Tuesday, April 9th. Stephens reaffirmed an “overweight” rating and issued a $33.00 target price on shares of Cadence Bank in a report on Tuesday, April 23rd. Hovde Group raised shares of Cadence Bank from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $32.50 to $33.00 in a report on Wednesday, April 24th. Raymond James dropped their target price on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 31st. Finally, DA Davidson reiterated a “buy” rating on shares of Cadence Bank in a research report on Monday, January 15th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.09.

Cadence Bank Stock Up 0.7 %

CADE stock opened at $29.40 on Friday. Cadence Bank has a one year low of $17.38 and a one year high of $31.45. The stock has a market capitalization of $5.36 billion, a P/E ratio of 9.39 and a beta of 1.01. The company has a 50 day moving average price of $28.00 and a two-hundred day moving average price of $27.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. As a group, sell-side analysts expect that Cadence Bank will post 2.48 EPS for the current year.

Cadence Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, June 14th. Cadence Bank’s payout ratio is currently 31.95%.

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.