Cadence Bank (NYSE:CADE) Stake Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 33.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 227,802 shares of the company's stock after selling 116,352 shares during the period. Thrivent Financial for Lutherans owned 0.13% of Cadence Bank worth $7,848,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in Cadence Bank by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company's stock valued at $1,284,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock valued at $64,000 after acquiring an additional 301 shares in the last quarter. Ironwood Investment Management LLC boosted its position in Cadence Bank by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock worth $1,039,000 after purchasing an additional 354 shares during the period. Arizona State Retirement System boosted its position in Cadence Bank by 0.8% during the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company's stock worth $1,827,000 after purchasing an additional 415 shares during the period. Finally, Algert Global LLC lifted its stake in shares of Cadence Bank by 2.8% during the third quarter. Algert Global LLC now owns 18,920 shares of the company's stock worth $603,000 after purchasing an additional 522 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

CADE has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Stephens restated an "overweight" rating and issued a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Citigroup lifted their price target 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Bank presently has a consensus rating of "Moderate Buy" and an average target price of $38.77.

Cadence Bank Trading Down 0.9 %

Cadence Bank stock traded down $0.27 during midday trading on Thursday, hitting $30.77. The stock had a trading volume of 838,872 shares, compared to its average volume of 1,182,573. The business has a fifty day moving average price of $33.12 and a 200 day moving average price of $34.02. Cadence Bank has a 12 month low of $26.16 and a 12 month high of $40.20. The stock has a market cap of $5.61 billion, a P/E ratio of 11.11 and a beta of 0.96.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $0.40 earnings per share. On average, equities analysts anticipate that Cadence Bank will post 2.94 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.58%. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio is currently 39.71%.

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.