Steward Partners Investment Advisory LLC Has $78,000 Stock Position in Cadence Bank (NYSE:CADE)

Steward Partners Investment Advisory LLC reduced its position in shares of Cadence Bank (NYSE:CADE) by 17.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,274 shares of the company’s stock after selling 478 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Cadence Bank were worth $78,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CADE. Oregon Public Employees Retirement Fund increased its holdings in shares of Cadence Bank by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock worth $1,284,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its position in Cadence Bank by 19.3% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after acquiring an additional 301 shares during the last quarter. KBC Group NV boosted its position in Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares during the last quarter. Algert Global LLC boosted its position in shares of Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after purchasing an additional 522 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Cadence Bank by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Price Performance

Shares of CADE stock opened at $30.30 on Tuesday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 10.94 and a beta of 0.96. Cadence Bank has a one year low of $26.16 and a one year high of $40.20. The company’s fifty day moving average price is $33.68 and its 200-day moving average price is $34.08.

Cadence Bank (NYSE:CADE) last posted its earnings results 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 net margin of 18.03% and a return on equity of 9.87%. During the same quarter in the previous year, the business earned $0.40 earnings per share. Equities research analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.275 per share. 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 dividend yield of 3.63%. Cadence Bank’s payout ratio is currently 39.71%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CADE. Citigroup upped their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Morgan Stanley decreased their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price objective 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.77.

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.