Moody Aldrich Partners LLC Lowers Stock Holdings in Cadence Bank (NYSE:CADE)

Moody Aldrich Partners LLC lowered its stake in Cadence Bank (NYSE:CADE - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,663 shares of the company's stock after selling 8,269 shares during the quarter. Cadence Bank makes up 1.8% of Moody Aldrich Partners LLC's investment portfolio, making the stock its 5th largest holding. Moody Aldrich Partners LLC owned about 0.16% of Cadence Bank worth $9,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Cadence Bank during the third quarter valued at $25,000. Brooklyn Investment Group purchased a new position in Cadence Bank during the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd acquired a new position in Cadence Bank in the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC lifted its position in Cadence Bank by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company's stock worth $50,000 after buying an additional 559 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Cadence Bank by 23.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company's stock valued at $158,000 after buying an additional 926 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CADE has been the subject of a number of recent research reports. Barclays raised Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Citigroup upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. DA Davidson raised their target price on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Stephens reiterated an "overweight" rating and set a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.50.

Cadence Bank Price Performance

Shares of Cadence Bank stock traded down $0.07 during midday trading on Friday, hitting $35.19. The company had a trading volume of 1,367,626 shares, compared to its average volume of 1,177,894. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The business's 50 day simple moving average is $35.73 and its two-hundred day simple moving average is $33.73. The stock has a market cap of $6.41 billion, a PE ratio of 12.70 and a beta of 1.00.

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 the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period last year, the business posted $0.40 EPS. On average, sell-side analysts expect that Cadence Bank will post 2.92 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.275 dividend. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.13%. Cadence Bank's dividend payout ratio is 36.10%.

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.