Cadence Bank (NYSE:CADE) Stock Holdings Lessened by Cwm LLC

Cwm LLC lessened its holdings in shares of Cadence Bank (NYSE:CADE) by 37.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,364 shares of the company’s stock after selling 807 shares during the quarter. Cwm LLC’s holdings in Cadence Bank were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CADE. Fifth Third Bancorp boosted its holdings in shares of Cadence Bank by 165.8% during the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after acquiring an additional 905 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Cadence Bank by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after purchasing an additional 524 shares during the last quarter. Hardy Reed LLC acquired a new position in Cadence Bank during the 3rd quarter valued at about $203,000. Moody Lynn & Lieberson LLC bought a new position in Cadence Bank in the 4th quarter worth about $205,000. Finally, Precedent Wealth Partners LLC acquired a new stake in shares of Cadence Bank in the fourth quarter valued at approximately $223,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $29.40 on Friday. The company has a market capitalization of $5.36 billion, a PE ratio of 9.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average of $28.00 and a 200-day moving average of $27.09. Cadence Bank has a one year low of $17.38 and a one year high of $31.45.

Cadence Bank (NYSE:CADE) last announced its 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 business had revenue of $437.69 million during the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. Cadence Bank’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate that Cadence Bank will post 2.48 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Hovde Group upgraded shares of Cadence Bank from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $32.50 to $33.00 in a research note on Wednesday, April 24th. Morgan Stanley increased their target price on shares of Cadence Bank from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Truist Financial upped their price target on shares of Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.09.

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.