Blue Trust Inc. Has $204,000 Stock Holdings in Cadence Bank (NYSE:CADE)

Blue Trust Inc. lowered its position in shares of Cadence Bank (NYSE:CADE) by 13.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,915 shares of the company’s stock after selling 920 shares during the quarter. Blue Trust Inc.’s holdings in Cadence Bank were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CADE. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cadence Bank during the third quarter worth $5,511,000. Moody Aldrich Partners LLC lifted its holdings in shares of Cadence Bank by 28.6% during the third quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company’s stock worth $9,394,000 after buying an additional 65,595 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new stake in shares of Cadence Bank during the third quarter worth $220,000. State of Alaska Department of Revenue lifted its holdings in shares of Cadence Bank by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 21,160 shares of the company’s stock worth $673,000 after buying an additional 1,435 shares in the last quarter. Finally, Leuthold Group LLC acquired a new stake in shares of Cadence Bank during the third quarter worth $2,743,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CADE shares. DA Davidson lifted their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Citigroup raised their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Barclays upgraded 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 research report on Thursday, December 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Cadence Bank Stock Down 1.3 %

Cadence Bank stock opened at $34.04 on Thursday. Cadence Bank has a 12-month low of $26.16 and a 12-month high of $40.20. The business’s 50-day moving average price is $34.96 and its two-hundred day moving average price is $33.96. The stock has a market cap of $6.20 billion, a PE ratio of 12.29 and a beta of 0.99.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating 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 quarter last year, the business earned $0.40 EPS. As a group, analysts expect that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. Cadence Bank’s dividend payout ratio (DPR) is presently 36.10%.

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.