Graham Capital Management L.P. Has $1.65 Million Position in Cadence Bank (NYSE:CADE)

Graham Capital Management L.P. trimmed its holdings in Cadence Bank (NYSE:CADE - Free Report) by 48.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,794 shares of the company's stock after selling 44,254 shares during the quarter. Graham Capital Management L.P.'s holdings in Cadence Bank were worth $1,647,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Cadence Bank by 0.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company's stock valued at $1,284,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company's stock valued at $64,000 after acquiring an additional 301 shares in the last quarter. Ironwood Investment Management LLC boosted its position in Cadence Bank by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock worth $1,039,000 after acquiring an additional 354 shares during the last quarter. Arizona State Retirement System grew its stake 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 worth $1,827,000 after acquiring an additional 415 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its holdings in shares of Cadence Bank by 2.4% in the fourth quarter. Sit Investment Associates Inc. now owns 25,750 shares of the company's stock valued at $887,000 after purchasing an additional 600 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Trading Down 0.7%

Shares of CADE traded down $0.21 during mid-day trading on Thursday, reaching $32.00. The company's stock had a trading volume of 931,172 shares, compared to its average volume of 1,288,750. The stock has a market cap of $5.83 billion, a P/E ratio of 11.55 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 business has a 50-day simple moving average of $29.35 and a two-hundred day simple moving average of $33.27.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.07. The firm 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 in the previous year, the business posted $0.62 earnings per share. Research analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank declared that its Board of Directors has approved a share repurchase plan on Friday, April 25th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, June 13th. Cadence Bank's dividend payout ratio is presently 38.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CADE. Citigroup raised their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Barclays lowered their target price on Cadence Bank from $44.00 to $38.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley reduced their price target on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods boosted their price target on Cadence Bank from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Finally, Hovde Group increased 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus 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.