Silvercrest Asset Management Group LLC Has $181.77 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Silvercrest Asset Management Group LLC decreased its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,276,243 shares of the company's stock after selling 311,666 shares during the quarter. Cadence Bank makes up 1.2% of Silvercrest Asset Management Group LLC's holdings, making the stock its 6th biggest position. Silvercrest Asset Management Group LLC owned about 2.90% of Cadence Bank worth $181,767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of Cadence Bank during the 4th quarter worth about $26,000. Mather Group LLC. boosted its holdings in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company's stock worth $28,000 after acquiring an additional 709 shares during the period. Keystone Financial Group Inc. acquired a new position in shares of Cadence Bank in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its stake in shares of Cadence Bank by 163.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock worth $40,000 after purchasing an additional 722 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Cadence Bank by 504.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company's stock worth $59,000 after purchasing an additional 1,434 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Price Performance

CADE stock traded down $0.92 during trading on Wednesday, reaching $30.62. 262,529 shares of the company were exchanged, compared to its average volume of 1,290,589. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 11.09 and a beta of 0.84. The company has a 50-day moving average of $29.55 and a two-hundred day moving average of $33.21. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20.

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

Cadence Bank announced that its board has approved a stock repurchase program on Friday, April 25th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Cadence Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.10 annualized dividend and a yield of 3.59%. Cadence Bank's dividend payout ratio is presently 38.60%.

Analysts Set New Price Targets

Several research firms recently commented on CADE. Hovde Group raised their price target on shares of Cadence Bank from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Citigroup boosted their price target on Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Morgan Stanley lowered their price objective on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada dropped their price target on Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Cadence Bank presently has an average rating of "Moderate Buy" and a consensus target price of $36.82.

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.