Stieven Capital Advisors L.P. Decreases Stock Holdings in Cadence Bank (NYSE:CADE)

Stieven Capital Advisors L.P. trimmed its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 52.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,068 shares of the company's stock after selling 137,400 shares during the period. Stieven Capital Advisors L.P. owned approximately 0.07% of Cadence Bank worth $4,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Cadence Bank by 2.2% during the 4th quarter. Rhumbline Advisers now owns 624,177 shares of the company's stock worth $21,503,000 after acquiring an additional 13,507 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Cadence Bank by 5.9% during the 4th quarter. New York State Teachers Retirement System now owns 236,546 shares of the company's stock worth $8,149,000 after acquiring an additional 13,187 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Cadence Bank by 7.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company's stock valued at $76,986,000 after purchasing an additional 151,215 shares during the last quarter. Vest Financial LLC increased its position in shares of Cadence Bank by 53.9% during the 4th quarter. Vest Financial LLC now owns 71,841 shares of the company's stock valued at $2,475,000 after purchasing an additional 25,160 shares during the last quarter. Finally, Fairvoy Private Wealth LLC bought a new position in shares of Cadence Bank during the 4th quarter valued at approximately $564,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Cadence Bank Trading Down 1.3 %

Shares of CADE traded down $0.44 during midday trading on Wednesday, reaching $34.04. 1,273,784 shares of the stock were exchanged, compared to its average volume of 1,165,456. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The company's 50 day moving average is $35.02 and its two-hundred day moving average is $33.96. The company has a market capitalization of $6.20 billion, a P/E ratio of 12.29 and a beta of 0.99.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 in the prior year, the business posted $0.40 EPS. On average, sell-side analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed 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. 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 3.23%. The ex-dividend date is Friday, March 14th. Cadence Bank's dividend payout ratio is 36.10%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CADE. Citigroup boosted their target price on Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Stephens reissued an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Truist Financial upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Cadence Bank presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

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.