Cadence Bank (NYSE:CADE) Hits New 12-Month Low - Time to Sell?

Cadence Bank (NYSE:CADE - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $25.71 and last traded at $25.68, with a volume of 120683 shares traded. The stock had previously closed at $27.57.

Wall Street Analyst Weigh In

CADE has been the topic of a number of recent research reports. Morgan Stanley cut their price target on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada reissued a "sector perform" rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Hovde Group decreased their price target on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating for the company in a research report on Wednesday, April 2nd. Barclays cut their price target on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Stephens restated an "overweight" rating and issued a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.09.

Cadence Bank Stock Performance

The stock has a fifty day simple moving average of $31.75 and a two-hundred day simple moving average of $33.81. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 10.39 and a beta of 0.87.

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Cadence Bank (NYSE:CADE - Get Free Report) last released its 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 company earned $0.40 earnings per share. Research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.82%. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's payout ratio is currently 39.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of Cadence Bank during the fourth quarter valued at about $26,000. Mather Group LLC. boosted its holdings 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 in the last quarter. Keystone Financial Group Inc. acquired a new stake in Cadence Bank in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its position in shares of Cadence Bank by 163.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock worth $40,000 after purchasing an additional 722 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in 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 during the period. 84.61% of the stock is owned by institutional investors.

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.