Mutual of America Capital Management LLC Sells 5,836 Shares of Cadence Bank (NYSE:CADE)

Mutual of America Capital Management LLC lessened its holdings in shares of Cadence Bank (NYSE:CADE) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,901 shares of the company’s stock after selling 5,836 shares during the period. Mutual of America Capital Management LLC’s holdings in Cadence Bank were worth $3,341,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State of Wyoming bought a new position in Cadence Bank in the 4th quarter worth about $25,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Cadence Bank in the 3rd quarter worth about $25,000. Fifth Third Bancorp boosted its stake in Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock worth $31,000 after purchasing an additional 905 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Cadence Bank by 102.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,800 shares of the company’s stock worth $35,000 after purchasing an additional 913 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Cadence Bank by 189.8% in the 1st quarter. Covestor Ltd now owns 2,455 shares of the company’s stock worth $72,000 after purchasing an additional 1,608 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

CADE has been the subject of a number of recent analyst reports. TheStreet lowered Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a research report on Monday, January 15th. Stephens reissued an “overweight” rating and issued a $32.00 target price on shares of Cadence Bank in a research report on Tuesday, January 30th. Raymond James decreased their target price on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 31st. Finally, Jefferies Financial Group decreased their target price on Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.65.

Cadence Bank Price Performance

NYSE CADE opened at $26.61 on Thursday. Cadence Bank has a 52 week low of $16.95 and a 52 week high of $31.45. The firm has a market capitalization of $4.86 billion, a P/E ratio of 9.14 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $27.54 and a 200-day moving average price of $26.28.

Cadence Bank (NYSE:CADE) last released its 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). The firm had revenue of $23.15 million during the quarter, compared to analysts’ expectations of $433.99 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. Equities research analysts anticipate that Cadence Bank will post 2.38 earnings per share for the current year.

Cadence Bank Increases Dividend

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

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.