Cadence Bank (NYSE:CADE) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 45.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in Cadence Bank in the fourth quarter valued at $8,061,000. Algert Global LLC boosted its position in shares of Cadence Bank by 339.6% in the 4th quarter. Algert Global LLC now owns 83,163 shares of the company's stock valued at $2,865,000 after purchasing an additional 64,243 shares during the period. Northern Trust Corp grew its stake in Cadence Bank by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,684,312 shares of the company's stock worth $92,475,000 after buying an additional 350,660 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in Cadence Bank by 262.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 22,845 shares of the company's stock worth $787,000 after buying an additional 16,545 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in Cadence Bank by 17.8% during the fourth quarter. Voya Investment Management LLC now owns 163,697 shares of the company's stock worth $5,639,000 after buying an additional 24,704 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Price Performance

NYSE CADE traded down $0.21 on Tuesday, hitting $31.50. 1,678,190 shares of the company's stock were exchanged, compared to its average volume of 1,294,555. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 11.37 and a beta of 0.84. The firm's 50-day moving average price is $29.55 and its two-hundred day moving average price is $33.21. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.07. The firm had revenue of $448.55 million for 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 period in the previous year, the business earned $0.62 earnings per share. On average, research analysts predict that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank declared that its Board of Directors has initiated a share buyback plan on Friday, April 25th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Cadence Bank Announces Dividend

The business 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 dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.49%. Cadence Bank's payout ratio is currently 38.60%.

Wall Street Analysts Forecast Growth

CADE has been the topic of a number of research reports. Royal Bank of Canada lowered their target price on shares of Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price target on shares of 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 dropped their price objective on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Stephens reiterated an "overweight" rating and set a $40.00 target price on shares of Cadence Bank in a research note on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods raised their price target on Cadence Bank from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.82.

Cadence Bank 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.