Janus Henderson Group PLC Sells 221,123 Shares of Cadence Bank (NYSE:CADE)

Janus Henderson Group PLC decreased its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,017 shares of the company's stock after selling 221,123 shares during the period. Janus Henderson Group PLC owned 0.14% of Cadence Bank worth $8,990,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CADE. Vanguard Group Inc. increased its stake in shares of Cadence Bank by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 20,488,277 shares of the company's stock worth $705,821,000 after purchasing an additional 191,717 shares during the period. Northern Trust Corp grew its holdings in Cadence Bank by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,684,312 shares of the company's stock valued at $92,475,000 after buying an additional 350,660 shares during the last quarter. First Trust Advisors LP increased its position in Cadence Bank by 21.2% in the 4th quarter. First Trust Advisors LP now owns 2,634,335 shares of the company's stock worth $90,753,000 after buying an additional 460,486 shares during the period. Charles Schwab Investment Management Inc. lifted 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 worth $77,678,000 after buying an additional 12,309 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Cadence Bank by 7.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,234,733 shares of the company's stock worth $76,986,000 after buying an additional 151,215 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Price Performance

Shares of Cadence Bank stock traded down $0.46 during midday trading on Friday, hitting $30.20. 1,810,964 shares of the company were exchanged, compared to its average volume of 1,300,166. The firm has a 50 day simple moving average of $29.56 and a 200-day simple moving average of $33.15. The firm has a market cap of $5.50 billion, a P/E ratio of 10.90 and a beta of 0.84. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data 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 return on equity of 9.87% and a net margin of 18.03%. The firm had revenue of $448.55 million during the quarter, compared to analyst estimates of $451.61 million. During the same period in the prior year, the company posted $0.62 earnings per share. Equities research analysts expect 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 given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, June 13th. Cadence Bank's dividend payout ratio (DPR) is currently 38.60%.

Cadence Bank declared that its board has approved a share buyback plan on Friday, April 25th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Cadence Bank from $38.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Cadence Bank from a "sell" rating to a "hold" rating in a research report on Thursday. Royal Bank of Canada dropped their price objective on shares of Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley decreased their target price on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup raised their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.