Cadence Bank (NYSE:CADE) Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. reduced its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,468 shares of the company's stock after selling 16,436 shares during the period. Cadence Bank comprises approximately 1.6% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 28th largest position. Stieven Capital Advisors L.P. owned approximately 0.14% of Cadence Bank worth $8,328,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CADE. V Square Quantitative Management LLC purchased a new stake in Cadence Bank in the third quarter valued at $25,000. GAMMA Investing LLC lifted its position in Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company's stock valued at $28,000 after acquiring an additional 436 shares during the last quarter. Innealta Capital LLC purchased a new stake in Cadence Bank in the second quarter valued at $138,000. KBC Group NV lifted its position in Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company's stock valued at $160,000 after acquiring an additional 519 shares during the last quarter. Finally, Americana Partners LLC purchased a new stake in Cadence Bank in the third quarter valued at $201,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Cadence Bank Stock Performance

Shares of Cadence Bank stock traded down $0.32 on Friday, reaching $37.70. 1,541,307 shares of the stock were exchanged, compared to its average volume of 1,498,679. Cadence Bank has a 1-year low of $24.15 and a 1-year high of $39.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $33.14 and a two-hundred day moving average price of $30.87. The firm has a market capitalization of $6.87 billion, a PE ratio of 10.83 and a beta of 0.95.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same period in the previous year, the business posted $0.56 earnings per share. The business's revenue was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.65%. Cadence Bank's payout ratio is currently 28.74%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CADE. Royal Bank of Canada boosted their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Truist Financial lifted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Piper Sandler lowered shares of Cadence Bank from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. Finally, Stephens restated an "overweight" rating and issued a $35.00 price objective on shares of Cadence Bank in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cadence Bank has an average rating of "Moderate Buy" and a consensus target price of $35.29.

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.