Cadence Bank (NYSE:CADE) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,524 shares of the company's stock after selling 7,692 shares during the period. Concurrent Investment Advisors LLC's holdings in Cadence Bank were worth $1,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in Cadence Bank during the 4th quarter valued at about $26,000. Mather Group LLC. increased its stake in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company's stock worth $28,000 after buying an additional 709 shares during the period. Keystone Financial Group Inc. acquired a new stake in Cadence Bank during the 4th quarter worth approximately $31,000. Point72 Hong Kong Ltd purchased a new position in Cadence Bank in the 3rd quarter valued at approximately $32,000. Finally, GAMMA Investing LLC increased its position in shares of Cadence Bank by 19.3% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock worth $64,000 after acquiring an additional 301 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CADE has been the subject of a number of recent research reports. Stephens reiterated an "overweight" rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. 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 research note on Monday, January 27th. Barclays upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

Cadence Bank Stock Performance

CADE traded up $0.04 during trading on Monday, hitting $33.08. The stock had a trading volume of 281,132 shares, compared to its average volume of 1,150,816. Cadence Bank has a twelve month low of $26.16 and a twelve month high of $40.20. The firm has a market capitalization of $6.03 billion, a P/E ratio of 11.94 and a beta of 0.99. The company's 50-day moving average price is $34.83 and its 200 day moving average price is $34.06.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share 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 last year, the firm earned $0.40 EPS. As a group, equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.33%. Cadence Bank's dividend payout ratio is currently 39.71%.

Cadence Bank 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.