Deutsche Bank AG Sells 67,757 Shares of Cadence Bank (NYSE:CADE)

Deutsche Bank AG cut its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 16.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 350,265 shares of the company's stock after selling 67,757 shares during the quarter. Deutsche Bank AG owned about 0.19% of Cadence Bank worth $12,067,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Cadence Bank during the 4th quarter worth $26,000. Mather Group LLC. raised its stake in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company's stock valued at $28,000 after acquiring an additional 709 shares during the last quarter. Keystone Financial Group Inc. acquired a new position in Cadence Bank during the fourth quarter worth $31,000. Smartleaf Asset Management LLC lifted its position in shares of Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock valued at $40,000 after buying an additional 722 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Cadence Bank by 504.9% in 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 in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CADE. Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. 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, March 13th. Barclays lowered their price objective on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Hovde Group raised their target price on shares of Cadence Bank from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Finally, DA Davidson cut their price target on Cadence Bank from $42.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.82.

Cadence Bank Stock Performance

Shares of Cadence Bank stock traded down $0.15 during midday trading on Monday, hitting $31.67. 1,349,470 shares of the company traded hands, compared to its average volume of 1,291,414. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 11.43 and a beta of 0.84. The firm's fifty day moving average price is $29.46 and its 200-day moving average price is $33.23. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.20.

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

Cadence Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.275 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.10 annualized dividend and a yield of 3.47%. Cadence Bank's dividend payout ratio (DPR) is 38.60%.

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

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.