SG Americas Securities LLC Sells 74,280 Shares of Cadence Bank (NYSE:CADE)

SG Americas Securities LLC lessened its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 89.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,619 shares of the company's stock after selling 74,280 shares during the period. SG Americas Securities LLC's holdings in Cadence Bank were worth $255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Cadence Bank by 0.4% in the third quarter. Vanguard Group Inc. now owns 19,172,865 shares of the company's stock valued at $406,848,000 after purchasing an additional 69,805 shares in the last quarter. State Street Corp lifted its stake in Cadence Bank by 2.5% in the 2nd quarter. State Street Corp now owns 9,244,407 shares of the company's stock valued at $183,797,000 after acquiring an additional 228,289 shares in the last quarter. Wellington Management Group LLP boosted its position in Cadence Bank by 15.7% during the 3rd quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company's stock worth $166,110,000 after acquiring an additional 1,063,055 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Cadence Bank by 29.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,324,626 shares of the company's stock worth $106,646,000 after acquiring an additional 971,590 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Cadence Bank by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 3,493,724 shares of the company's stock worth $72,530,000 after acquiring an additional 140,364 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CADE has been the subject of several recent research reports. Hovde Group cut shares of Cadence Bank from an "outperform" rating to a "market perform" rating and set a $32.50 target price for the company. in a report on Tuesday, January 30th. Raymond James reduced their price target on Cadence Bank from $35.00 to $34.00 and set a "strong-buy" rating for the company in a research report on Wednesday, January 31st. TheStreet cut Cadence Bank from a "b" rating to a "c" rating in a research note on Tuesday, January 30th. Barclays started coverage on shares of Cadence Bank in a research note on Friday, March 8th. They issued an "equal weight" rating and a $28.00 target price for the company. Finally, Stephens restated an "overweight" rating and set a $32.00 target price on shares of Cadence Bank in a report on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $30.65.

Cadence Bank Stock Performance

Shares of CADE traded up $0.03 during midday trading on Thursday, reaching $26.99. 1,279,281 shares of the stock were exchanged, compared to its average volume of 1,388,292. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock's 50 day simple moving average is $27.47 and its 200 day simple moving average is $26.10. Cadence Bank has a twelve month low of $16.95 and a twelve month high of $31.45. The company has a market cap of $4.93 billion, a P/E ratio of 9.27 and a beta of 1.02.

Cadence Bank (NYSE:CADE - Get Free Report) last released its earnings results on Monday, January 29th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.13). The company had revenue of $23.15 million for the quarter, compared to the consensus estimate of $433.99 million. Cadence Bank had a net margin of 23.33% and a return on equity of 9.55%. On average, sell-side analysts expect that Cadence Bank will post 2.38 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Thursday, March 14th. This is an increase from Cadence Bank's previous quarterly dividend of $0.24. Cadence Bank's dividend payout ratio is 34.36%.

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.