Natixis Advisors L.P. reduced its position in Cadence Bank (NYSE:CADE – Free Report) by 39.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,215 shares of the company’s stock after selling 103,248 shares during the period. Natixis Advisors L.P. owned about 0.14% of Cadence Bank worth $3,243,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CADE. State of Wyoming acquired a new position in Cadence Bank in the fourth quarter worth approximately $25,000. Covestor Ltd increased its stake in shares of Cadence Bank by 189.8% during the 1st quarter. Covestor Ltd now owns 2,455 shares of the company’s stock worth $72,000 after purchasing an additional 1,608 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Cadence Bank by 34.4% during the 1st quarter. Ronald Blue Trust Inc. now owns 3,097 shares of the company’s stock valued at $77,000 after purchasing an additional 793 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of Cadence Bank in the 4th quarter valued at $89,000. Finally, Neo Ivy Capital Management bought a new stake in Cadence Bank in the fourth quarter worth $105,000. 80.22% of the stock is owned by hedge funds and other institutional investors.
Cadence Bank Stock Performance
Shares of NYSE CADE opened at $23.79 on Friday. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $29.41. The company has a market cap of $4.34 billion, a P/E ratio of 10.86 and a beta of 1.02. The business’s 50 day moving average is $22.62 and its two-hundred day moving average is $21.78. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.10.
Cadence Bank Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, September 14th. Cadence Bank’s payout ratio is presently 42.92%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on CADE shares. Truist Financial reduced their price target on Cadence Bank from $24.00 to $23.00 in a research report on Thursday, June 29th. TheStreet raised Cadence Bank from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Finally, Stephens lifted their price target on shares of Cadence Bank from $24.00 to $27.00 in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and a consensus price target of $25.38.
Get Our Latest Stock Report on Cadence Bank
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.
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