US Bancorp DE Sells 13,108 Shares of Cadence Bank (NYSE:CADE)

US Bancorp DE lessened its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 57.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,731 shares of the company's stock after selling 13,108 shares during the period. US Bancorp DE's holdings in Cadence Bank were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CADE. Wolverine Asset Management LLC boosted its holdings in Cadence Bank by 59.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 10,917 shares of the company's stock worth $348,000 after buying an additional 4,069 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Cadence Bank by 7.2% in the third quarter. GSA Capital Partners LLP now owns 42,635 shares of the company's stock worth $1,358,000 after acquiring an additional 2,857 shares during the period. MQS Management LLC bought a new position in shares of Cadence Bank in the third quarter worth $316,000. KBC Group NV grew its position in shares of 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 purchasing an additional 519 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Cadence Bank by 15.9% during the 3rd quarter. Natixis Advisors LLC now owns 486,122 shares of the company's stock valued at $15,483,000 after purchasing an additional 66,747 shares during the period. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Performance

CADE traded up $0.45 during trading on Monday, reaching $30.30. The stock had a trading volume of 1,270,380 shares, compared to its average volume of 1,177,230. The business has a 50-day moving average of $33.78 and a 200-day moving average of $34.09. Cadence Bank has a one year low of $26.16 and a one year high of $40.20. The stock has a market cap of $5.52 billion, a PE ratio of 10.94 and a beta of 0.96.

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Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS 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 quarter last year, the firm posted $0.40 EPS. Equities research analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.63%. This is a positive change from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank's payout ratio is presently 39.71%.

Wall Street Analyst Weigh In

Several research analysts have commented on CADE shares. Morgan Stanley cut 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. Keefe, Bruyette & Woods raised their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Barclays raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Royal Bank of Canada reissued a "sector perform" rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Finally, Stephens reaffirmed an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $38.77.

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.