Blue Trust Inc. Has $204,000 Stock Position in Cadence Bank (NYSE:CADE)

Blue Trust Inc. reduced its stake in Cadence Bank (NYSE:CADE) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,915 shares of the company’s stock after selling 920 shares during the quarter. Blue Trust Inc.’s holdings in Cadence Bank were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CADE. Allspring Global Investments Holdings LLC acquired a new position in shares of Cadence Bank in the third quarter worth approximately $5,511,000. Moody Aldrich Partners LLC lifted its stake in shares of Cadence Bank by 28.6% in the third quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company’s stock worth $9,394,000 after acquiring an additional 65,595 shares during the period. Moody Lynn & Lieberson LLC acquired a new position in shares of Cadence Bank in the third quarter worth approximately $220,000. State of Alaska Department of Revenue lifted its stake in shares of Cadence Bank by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 21,160 shares of the company’s stock worth $673,000 after acquiring an additional 1,435 shares during the period. Finally, Leuthold Group LLC acquired a new position in shares of Cadence Bank in the third quarter worth approximately $2,743,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CADE shares. Citigroup lifted their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial boosted their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson boosted their price target on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Cadence Bank Stock Down 1.3 %

NYSE CADE opened at $34.04 on Thursday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 12.29 and a beta of 0.99. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The business has a 50 day moving average price of $34.96 and a 200-day moving average price of $33.96.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, equities research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.275 dividend. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 36.10%.

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.