Cadence Bank (NYSE:CADE) Stake Lessened by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. trimmed its stake in shares of Cadence Bank (NYSE:CADE) by 52.5% during the fourth quarter, HoldingsChannel reports. The fund owned 124,068 shares of the company’s stock after selling 137,400 shares during the quarter. Stieven Capital Advisors L.P.’s holdings in Cadence Bank were worth $4,274,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CADE. Rhumbline Advisers lifted its holdings in Cadence Bank by 2.2% during the 4th quarter. Rhumbline Advisers now owns 624,177 shares of the company’s stock worth $21,503,000 after buying an additional 13,507 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Cadence Bank by 5.9% during the fourth quarter. New York State Teachers Retirement System now owns 236,546 shares of the company’s stock worth $8,149,000 after purchasing an additional 13,187 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Cadence Bank by 7.3% in 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 period. Vest Financial LLC increased its stake in Cadence Bank by 53.9% during the fourth quarter. Vest Financial LLC now owns 71,841 shares of the company’s stock valued at $2,475,000 after purchasing an additional 25,160 shares during the last quarter. Finally, Fairvoy Private Wealth LLC acquired a new stake in shares of Cadence Bank during the fourth quarter worth $564,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Trading Down 1.5 %

CADE stock opened at $34.50 on Friday. The firm’s 50-day moving average is $35.12 and its two-hundred day moving average is $33.89. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 12.45 and a beta of 0.99. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period in the prior year, the business earned $0.40 earnings per share. On average, equities research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently declared 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. 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 annualized dividend and a yield of 3.19%. Cadence Bank’s payout ratio is 36.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CADE shares. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Truist Financial upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.