Natixis Advisors LLC Sells 12,328 Shares of Cadence Bank (NYSE:CADE)

Key Points

• Natixis Advisors LLC has reduced its stake in Cadence Bank by 2.5%, selling 12,328 shares, now holding approximately 471,362 shares valued at $14.31 million.
• Cadence Bank recently announced a quarterly dividend of $0.275, with a current annualized yield of 3.2%.
• Wall Street analysts have mixed ratings for Cadence Bank, with an average rating of "Moderate Buy" and a consensus price target of $40.40.

Natixis Advisors LLC lessened its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,362 shares of the company's stock after selling 12,328 shares during the period. Natixis Advisors LLC owned approximately 0.26% of Cadence Bank worth $14,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Cadence Bank by 39.2% in the 4th quarter. LPL Financial LLC now owns 149,475 shares of the company's stock worth $5,149,000 after purchasing an additional 42,097 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Cadence Bank by 46.2% during the fourth quarter. JPMorgan Chase & Co. now owns 604,097 shares of the company's stock valued at $20,811,000 after purchasing an additional 190,981 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Cadence Bank by 7.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 28,439 shares of the company's stock valued at $980,000 after purchasing an additional 2,073 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Cadence Bank in the fourth quarter valued at about $249,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Cadence Bank by 23.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,809 shares of the company's stock valued at $303,000 after acquiring an additional 1,665 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Trading Down 1.3%

Shares of NYSE:CADE traded down $0.46 during trading on Thursday, hitting $33.99. The company had a trading volume of 675,527 shares, compared to its average volume of 1,456,443. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 12.11 and a beta of 0.89. The company has a fifty day simple moving average of $33.03 and a two-hundred day simple moving average of $31.87. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. The company had revenue of $476.32 million for the quarter, compared to the consensus estimate of $467.60 million. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%. During the same period last year, the business posted $0.73 EPS. As a group, equities analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. Cadence Bank's dividend payout ratio (DPR) is 39.15%.

Cadence Bank announced that its Board of Directors has initiated a stock repurchase plan on Friday, April 25th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on Cadence Bank from $34.00 to $37.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Stephens boosted their target price on Cadence Bank from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Hovde Group boosted their target price on Cadence Bank from $34.00 to $40.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. DA Davidson boosted their target price on Cadence Bank from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Wall Street Zen downgraded Cadence Bank from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.40.

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.