Moody Aldrich Partners LLC Sells 8,269 Shares of Cadence Bank (NYSE:CADE)

Moody Aldrich Partners LLC lowered its position in shares of Cadence Bank (NYSE:CADE) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 286,663 shares of the company’s stock after selling 8,269 shares during the quarter. Cadence Bank comprises 1.8% of Moody Aldrich Partners LLC’s portfolio, making the stock its 5th largest position. Moody Aldrich Partners LLC owned approximately 0.16% of Cadence Bank worth $9,876,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CADE. Sei Investments Co. increased its position in shares of Cadence Bank by 49.7% in the second quarter. Sei Investments Co. now owns 75,128 shares of the company’s stock worth $2,125,000 after acquiring an additional 24,950 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Cadence Bank in the 2nd quarter valued at $670,000. AQR Capital Management LLC grew its stake in Cadence Bank by 74.2% in the 2nd quarter. AQR Capital Management LLC now owns 30,254 shares of the company’s stock valued at $856,000 after buying an additional 12,887 shares during the last quarter. Algert Global LLC acquired a new stake in Cadence Bank in the 2nd quarter worth $520,000. Finally, Creative Planning grew its position in Cadence Bank by 65.4% in the 2nd quarter. Creative Planning now owns 32,176 shares of the company’s stock worth $910,000 after purchasing an additional 12,723 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Trading Down 0.9 %

Shares of CADE opened at $35.17 on Wednesday. Cadence Bank has a twelve month low of $24.99 and a twelve month high of $40.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.41 billion, a PE ratio of 12.69 and a beta of 1.00. The business’s 50-day moving average price is $35.90 and its 200-day moving average price is $33.67.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.98% and a net margin of 18.03%. During the same period in the prior year, the company earned $0.40 earnings per share. On average, equities analysts forecast that Cadence Bank will post 2.87 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.275 per share. 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 dividend yield of 3.13%. The ex-dividend date is Friday, March 14th. Cadence Bank’s payout ratio is presently 36.10%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Truist Financial upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.13.

Cadence Bank 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.