Cadence Bank (NYSE:CADE) Shares Sold by Csenge Advisory Group

Csenge Advisory Group lessened its stake in Cadence Bank (NYSE:CADE - Free Report) by 23.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 101,480 shares of the company's stock after selling 31,466 shares during the period. Csenge Advisory Group owned about 0.06% of Cadence Bank worth $2,832,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Abound Wealth Management grew its stake in shares of Cadence Bank by 223.3% in the first quarter. Abound Wealth Management now owns 1,665 shares of the company's stock worth $51,000 after acquiring an additional 1,150 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Cadence Bank by 169.6% in the first quarter. UMB Bank n.a. now owns 1,774 shares of the company's stock worth $54,000 after acquiring an additional 1,116 shares in the last quarter. State of Wyoming grew its stake in shares of Cadence Bank by 172.4% in the fourth quarter. State of Wyoming now owns 2,359 shares of the company's stock worth $81,000 after acquiring an additional 1,493 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Cadence Bank by 55.3% in the first quarter. GAMMA Investing LLC now owns 2,892 shares of the company's stock worth $88,000 after acquiring an additional 1,030 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of Cadence Bank in the first quarter worth $122,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler upgraded Cadence Bank from a "neutral" rating to an "overweight" rating and raised their price target for the company from $36.00 to $42.00 in a research note on Tuesday, July 8th. DA Davidson cut their price target on Cadence Bank from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada cut their price target on Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Hovde Group raised their price target on Cadence Bank from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Barclays restated an "overweight" rating and issued a $41.00 price target (up from $38.00) on shares of Cadence Bank in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.50.

Cadence Bank Stock Performance

NYSE CADE traded down $0.09 during trading hours on Friday, hitting $34.91. 1,573,993 shares of the stock were exchanged, compared to its average volume of 1,314,505. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 12.25 and a beta of 0.84. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The stock has a 50-day moving average of $32.00 and a 200 day moving average of $31.81. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $448.55 million for the quarter, compared to analyst estimates of $451.61 million. Cadence Bank had a net margin of 18.83% and a return on equity of 9.95%. During the same period in the prior year, the business earned $0.62 earnings per share. As a group, equities research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank declared that its Board of Directors has approved a share buyback plan on Friday, April 25th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Cadence Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, June 13th. Cadence Bank's dividend payout ratio is currently 38.60%.

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.