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

Graham Capital Management L.P. decreased its position in shares of Cadence Bank (NYSE:CADE - Free Report) by 48.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in Cadence Bank during the fourth quarter worth about $26,000. Mather Group LLC. lifted its position in Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company's stock worth $28,000 after purchasing an additional 709 shares during the period. Keystone Financial Group Inc. bought a new stake in Cadence Bank during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in Cadence Bank by 163.7% during the fourth 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. Finally, Parkside Financial Bank & Trust lifted its position in Cadence Bank by 504.9% during the fourth 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. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CADE shares. DA Davidson dropped their target price on shares of Cadence Bank from $42.00 to $37.00 and set a "buy" rating for the company in a report 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 for the company in a report on Tuesday, April 8th. 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 for the company in a report on Wednesday, April 23rd. Piper Sandler dropped their target price on shares of Cadence Bank from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their target price on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cadence Bank has an average rating of "Moderate Buy" and a consensus target price of $36.82.

Cadence Bank Price Performance

NYSE CADE traded down $0.20 during trading hours on Friday, reaching $31.83. The company's stock had a trading volume of 1,317,683 shares, compared to its average volume of 1,291,182. The firm has a fifty day simple moving average of $29.46 and a 200-day simple moving average of $33.23. The stock has a market cap of $5.80 billion, a P/E ratio of 11.49 and a beta of 0.84. Cadence Bank has a 52 week low of $25.22 and a 52 week 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 analysts' consensus estimates of $0.64 by $0.07. The business had revenue of $448.55 million during the quarter, compared to analyst estimates of $451.61 million. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter last year, the business earned $0.62 EPS. On average, research analysts expect that Cadence Bank will post 2.94 earnings per share for the current year.

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 issued a $0.275 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.46%. Cadence Bank's dividend payout ratio (DPR) is presently 38.60%.

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

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.