Mustard Seed Financial LLC Cuts Stock Position in Cadence Bank (NYSE:CADE)

Mustard Seed Financial LLC trimmed its holdings in shares of Cadence Bank (NYSE:CADE) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,468 shares of the company’s stock after selling 6,761 shares during the period. Cadence Bank accounts for about 0.8% of Mustard Seed Financial LLC’s holdings, making the stock its 29th biggest holding. Mustard Seed Financial LLC’s holdings in Cadence Bank were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Cadence Bank by 19.3% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after purchasing an additional 301 shares during the period. KBC Group NV increased its stake in Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after buying an additional 519 shares during the period. Algert Global LLC lifted its holdings in Cadence Bank by 2.8% in the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after buying an additional 522 shares in the last quarter. HighTower Advisors LLC boosted its position in Cadence Bank by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after buying an additional 599 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its position in Cadence Bank by 3.5% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,970 shares of the company’s stock valued at $722,000 after buying an additional 715 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Trading Down 0.0 %

NYSE CADE opened at $35.93 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The company has a 50-day simple moving average of $36.11 and a 200-day simple moving average of $33.46. The firm has a market capitalization of $6.55 billion, a PE ratio of 10.32 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last issued its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. During the same period in the prior year, the company earned $0.40 earnings per share. On average, equities analysts forecast that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.275 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.06%. Cadence Bank’s dividend payout ratio is presently 28.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CADE shares. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. DA Davidson lifted their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Keefe, Bruyette & Woods lifted their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.32.

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.