Cadence Bank (NYSE:CADE) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lowered its holdings in Cadence Bank (NYSE:CADE) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 483,690 shares of the company’s stock after selling 2,432 shares during the period. Natixis Advisors LLC owned about 0.27% of Cadence Bank worth $16,663,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Cadence Bank in the 4th quarter worth approximately $26,000. Mather Group LLC. grew its stake in shares of Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after purchasing an additional 709 shares during the last quarter. Keystone Financial Group Inc. acquired a new position in shares of Cadence Bank in the 4th quarter worth approximately $31,000. Point72 Hong Kong Ltd acquired a new position in shares of Cadence Bank in the third quarter worth about $32,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Cadence Bank by 163.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after buying an additional 722 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Performance

CADE stock opened at $30.26 on Wednesday. The stock has a market cap of $5.51 billion, a P/E ratio of 10.92 and a beta of 0.96. The firm has a 50 day simple moving average of $33.59 and a 200 day simple moving average of $34.07. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $0.40 earnings per share. Sell-side analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. 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 3.64%. Cadence Bank’s payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

CADE has been the subject of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Morgan Stanley decreased their target price on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.77.

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.