Nomura Holdings Inc. Acquires Shares of 24,243 Cadence Bank (NYSE:CADE)

Nomura Holdings Inc. bought a new stake in Cadence Bank (NYSE:CADE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,243 shares of the company's stock, valued at approximately $835,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in Cadence Bank by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company's stock valued at $1,284,000 after buying an additional 300 shares in the last quarter. Ironwood Investment Management LLC boosted its position in shares of Cadence Bank by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock valued at $1,039,000 after acquiring an additional 354 shares during the last quarter. Arizona State Retirement System raised its position in shares of Cadence Bank by 0.8% during the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company's stock valued at $1,827,000 after buying an additional 415 shares in the last quarter. Sit Investment Associates Inc. raised its position in shares of Cadence Bank by 2.4% during the 4th quarter. Sit Investment Associates Inc. now owns 25,750 shares of the company's stock valued at $887,000 after buying an additional 600 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Cadence Bank by 1.4% during the 4th quarter. Victory Capital Management Inc. now owns 50,453 shares of the company's stock valued at $1,738,000 after buying an additional 685 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Stock Performance

Shares of NYSE CADE traded down $0.46 during midday trading on Friday, hitting $30.20. The company's stock had a trading volume of 1,810,964 shares, compared to its average volume of 1,303,067. 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 1-year low of $25.22 and a 1-year high of $40.20. The firm's fifty day moving average price is $29.56 and its 200-day moving average price is $33.08.

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

Cadence Bank declared that its board has authorized a stock repurchase program on Friday, April 25th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Cadence Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.275 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.64%. Cadence Bank's dividend payout ratio is presently 38.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CADE shares. Citigroup upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Stephens reissued an "overweight" rating and set a $40.00 price objective on shares of Cadence Bank in a research note on Tuesday, April 22nd. Royal Bank of Canada lowered their price objective on Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Barclays lowered their target price 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. Finally, Wall Street Zen upgraded shares of Cadence Bank from a "sell" rating to a "hold" rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Cadence Bank currently has an average rating of "Moderate Buy" and an average target price 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.