Cadence Bank (NYSE:CADE) Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. lessened its stake in shares of Cadence Bank (NYSE:CADE) by 52.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 124,068 shares of the company’s stock after selling 137,400 shares during the quarter. Stieven Capital Advisors L.P. owned about 0.07% of Cadence Bank worth $4,274,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CADE. FMR LLC grew its holdings in shares of Cadence Bank by 1.2% during the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock worth $523,074,000 after buying an additional 195,773 shares in the last quarter. State Street Corp raised its holdings in Cadence Bank by 1.9% in the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company’s stock valued at $284,759,000 after acquiring an additional 165,282 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after acquiring an additional 39,679 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cadence Bank by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock worth $71,423,000 after purchasing an additional 105,231 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Cadence Bank by 7.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company’s stock worth $76,986,000 after purchasing an additional 151,215 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $34.50 on Friday. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 12.45 and a beta of 0.99. The business has a 50-day moving average of $35.12 and a 200-day moving average of $33.89.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the prior year, the business earned $0.40 earnings per share. Research analysts expect that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.275 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 36.10%.

Wall Street Analysts Forecast Growth

CADE has been the topic of a number of research analyst reports. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. DA Davidson raised their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Cadence Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

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.