Cadence Bank (NYSE:CADE) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its position in Cadence Bank (NYSE:CADE) by 16.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 350,265 shares of the company’s stock after selling 67,757 shares during the period. Deutsche Bank AG’s holdings in Cadence Bank were worth $12,067,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of Cadence Bank during the fourth quarter valued at $26,000. Mather Group LLC. boosted its stake in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after acquiring an additional 709 shares during the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Cadence Bank during the fourth quarter valued at $31,000. Smartleaf Asset Management LLC boosted its stake in shares of Cadence Bank by 163.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after acquiring an additional 722 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Cadence Bank by 504.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after acquiring an additional 1,434 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Performance

CADE opened at $32.00 on Friday. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The stock’s fifty day moving average is $29.41 and its 200-day moving average is $33.25. The company has a market capitalization of $5.83 billion, a PE ratio of 11.55 and a beta of 0.84.

Cadence Bank (NYSE:CADE) last announced its earnings results on Monday, April 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.87% and a net margin of 18.03%. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, equities research analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Cadence Bank Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.44%. Cadence Bank’s dividend payout ratio is 38.60%.

Wall Street Analysts Forecast Growth

CADE has been the topic of a number of analyst reports. Citigroup increased their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. 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 research note on Wednesday, April 23rd. Stephens reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Cadence Bank in a research note on Tuesday, April 22nd. Piper Sandler decreased their price target on Cadence Bank from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Finally, Hovde Group raised their price target on Cadence Bank from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.82.

Cadence Bank Company 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.