Sei Investments Co. Decreases Position in Cadence Bank (NYSE:CADE)

Sei Investments Co. decreased its stake in Cadence Bank (NYSE:CADE) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,632 shares of the company’s stock after selling 9,396 shares during the quarter. Sei Investments Co.’s holdings in Cadence Bank were worth $2,778,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in shares of Cadence Bank during the 4th quarter worth $26,000. Mather Group LLC. lifted its stake in Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after acquiring an additional 709 shares during the period. Keystone Financial Group Inc. bought a new position in Cadence Bank during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC increased its position in Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after purchasing an additional 722 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Cadence Bank by 504.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after purchasing an additional 1,434 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Down 4.3 %

CADE opened at $26.39 on Friday. The company has a market cap of $4.81 billion, a PE ratio of 9.53 and a beta of 0.87. Cadence Bank has a twelve month low of $25.25 and a twelve month high of $40.20. The company has a 50-day moving average price of $32.29 and a 200 day moving average price of $33.92.

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

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is currently 39.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley lowered their price target on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Citigroup lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Hovde Group cut their price target on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Finally, Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.64.

About Cadence Bank

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.