SG Americas Securities LLC Buys Shares of 38,231 Cadence Bank (NYSE:CADE)

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its position in Cadence Bank by 163.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock worth $40,000 after purchasing an additional 722 shares during the period. UMB Bank n.a. raised its position in Cadence Bank by 169.6% in the 1st quarter. UMB Bank n.a. now owns 1,774 shares of the company's stock worth $54,000 after purchasing an additional 1,116 shares during the period. Parkside Financial Bank & Trust raised its position in Cadence Bank by 504.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company's stock worth $59,000 after purchasing an additional 1,434 shares during the period. Jones Financial Companies Lllp raised its position in Cadence Bank by 1,601.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,718 shares of the company's stock worth $59,000 after purchasing an additional 1,617 shares during the period. Finally, State of Wyoming raised its position in Cadence Bank by 172.4% in the 4th quarter. State of Wyoming now owns 2,359 shares of the company's stock worth $81,000 after purchasing an additional 1,493 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CADE shares. Hovde Group increased their price objective on shares of Cadence Bank from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Stephens restated an "overweight" rating and issued a $40.00 target price on shares of Cadence Bank in a research note on Tuesday, April 22nd. Royal Bank Of Canada dropped 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 note on Wednesday, April 23rd. Barclays dropped 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, Keefe, Bruyette & Woods upped their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.82.

Cadence Bank Stock Up 1.6%

CADE stock traded up $0.48 during trading on Thursday, hitting $30.24. 1,230,912 shares of the company's stock traded hands, compared to its average volume of 1,284,218. The firm has a market capitalization of $5.51 billion, a P/E ratio of 10.61 and a beta of 0.84. The business has a fifty day simple moving average of $29.99 and a two-hundred day simple moving average of $32.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. Cadence Bank has a 1 year low of $25.22 and a 1 year high of $40.20.

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

Cadence Bank Dividend Announcement

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

Cadence Bank announced that its Board of Directors has authorized a stock buyback plan on Friday, April 25th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the company to repurchase 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.

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.