Cadence Bank (NYSE:CADE) Shares Sold by Cadence Bank

Cadence Bank reduced its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 11.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 667,663 shares of the company's stock after selling 87,250 shares during the period. Cadence Bank makes up approximately 1.6% of Cadence Bank's portfolio, making the stock its 11th biggest holding. Cadence Bank owned 0.37% of Cadence Bank worth $23,001,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CADE. Victory Capital Management Inc. increased its holdings in Cadence Bank by 1.4% in the 4th quarter. Victory Capital Management Inc. now owns 50,453 shares of the company's stock worth $1,738,000 after acquiring an additional 685 shares in the last quarter. Stifel Financial Corp lifted its stake in Cadence Bank by 18.1% in the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company's stock valued at $670,000 after buying an additional 3,218 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Cadence Bank in the 3rd quarter worth about $947,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cadence Bank by 0.5% during the fourth 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 last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Cadence Bank by 7.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 28,439 shares of the company's stock valued at $980,000 after acquiring an additional 2,073 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup increased their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Stephens restated an "overweight" rating and set a $40.00 target price on shares of Cadence Bank in a report on Tuesday. Morgan Stanley dropped their price target on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Piper Sandler lowered their price objective on Cadence Bank from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Hovde Group cut their target price on Cadence Bank from $40.00 to $35.00 and set a "market perform" rating for the company in a research note on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.36.

Cadence Bank Stock Up 2.6 %

Cadence Bank stock traded up $0.72 during midday trading on Wednesday, reaching $28.62. The company's stock had a trading volume of 1,184,407 shares, compared to its average volume of 1,276,036. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20. The company has a market cap of $5.22 billion, a P/E ratio of 10.33 and a beta of 0.87. The business has a 50-day simple moving average of $30.15 and a 200-day simple moving average of $33.54.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Monday, April 21st. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.07. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. The business had revenue of $448.55 million during the quarter, compared to analysts' expectations of $451.61 million. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, equities analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

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.