SG Americas Securities LLC Invests $1.16 Million in Cadence Bank (NYSE:CADE)

SG Americas Securities LLC bought a new position in shares of Cadence Bank (NYSE:CADE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 38,231 shares of the company's stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds have also made changes to their positions in CADE. New York State Teachers Retirement System boosted its holdings in shares of Cadence Bank by 5.9% during the 4th quarter. New York State Teachers Retirement System now owns 236,546 shares of the company's stock worth $8,149,000 after purchasing an additional 13,187 shares during the last quarter. Rhumbline Advisers lifted its holdings in Cadence Bank by 2.2% in the fourth quarter. Rhumbline Advisers now owns 624,177 shares of the company's stock valued at $21,503,000 after acquiring an additional 13,507 shares during the last quarter. Callahan Advisors LLC acquired a new position in Cadence Bank in the fourth quarter valued at approximately $225,000. Handelsbanken Fonder AB lifted its holdings in Cadence Bank by 19.0% in the fourth quarter. Handelsbanken Fonder AB now owns 40,058 shares of the company's stock valued at $1,380,000 after acquiring an additional 6,400 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Cadence Bank by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,836,594 shares of the company's stock valued at $63,271,000 after acquiring an additional 62,026 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Up 0.0%

NYSE CADE traded up $0.01 on Friday, reaching $30.29. The stock had a trading volume of 3,529,572 shares, compared to its average volume of 1,287,369. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The stock has a fifty day moving average price of $30.12 and a two-hundred day moving average price of $32.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 10.63 and a beta of 0.84.

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

Cadence Bank announced that its board has authorized a share repurchase program 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 programs are typically a sign that the company's management believes its shares are undervalued.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 3.63%. The ex-dividend date is Friday, June 13th. Cadence Bank's dividend payout ratio is currently 38.60%.

Analyst Ratings Changes

CADE has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price objective on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Piper Sandler decreased their price objective on Cadence Bank from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Hovde Group upped their price objective on Cadence Bank from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. DA Davidson decreased their price objective on Cadence Bank from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada decreased their price objective on Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.82.

About Cadence Bank

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.