Trexquant Investment LP Has $2 Million Position in Cadence Bank (NYSE:CADE)

Trexquant Investment LP decreased its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 69.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,178 shares of the company's stock after selling 131,143 shares during the quarter. Trexquant Investment LP's holdings in Cadence Bank were worth $2,004,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Cadence Bank by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company's stock valued at $705,821,000 after acquiring an additional 191,717 shares during the period. State Street Corp lifted its position in shares of Cadence Bank by 1.9% in the third quarter. State Street Corp now owns 8,872,085 shares of the company's stock valued at $284,759,000 after buying an additional 165,282 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock worth $138,974,000 after acquiring an additional 39,679 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cadence Bank by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock valued at $77,678,000 after acquiring an additional 12,309 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in 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. Institutional investors own 84.61% of the company's stock.

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Cadence Bank Stock Up 0.6 %

Shares of CADE traded up $0.17 during midday trading on Monday, hitting $27.37. The company's stock had a trading volume of 67,142 shares, compared to its average volume of 1,259,918. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 9.88 and a beta of 0.87. The company's fifty day simple moving average is $31.19 and its two-hundred day simple moving average is $33.71.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm earned $0.40 EPS. On average, research analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.02%. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio (DPR) is currently 39.71%.

Analyst Upgrades and Downgrades

CADE has been the topic of a number of research reports. Citigroup upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Stephens reiterated an "overweight" rating and issued a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Morgan Stanley decreased their target price on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Finally, Barclays cut their price target on Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.09.

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.