Stieven Capital Advisors L.P. Sells 91,318 Shares of Cadence Bank (NYSE:CADE)

Stieven Capital Advisors L.P. trimmed its position in Cadence Bank (NYSE:CADE) by 24.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,904 shares of the company’s stock after selling 91,318 shares during the period. Cadence Bank makes up approximately 1.7% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 24th biggest position. Stieven Capital Advisors L.P. owned approximately 0.15% of Cadence Bank worth $7,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CADE. New York State Common Retirement Fund boosted its stake in Cadence Bank by 49.4% during the 4th quarter. New York State Common Retirement Fund now owns 112,255 shares of the company’s stock valued at $3,322,000 after purchasing an additional 37,129 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Cadence Bank by 13.7% during the 4th quarter. Russell Investments Group Ltd. now owns 229,688 shares of the company’s stock valued at $6,796,000 after purchasing an additional 27,763 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Cadence Bank by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 228,778 shares of the company’s stock valued at $6,770,000 after purchasing an additional 754 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Cadence Bank by 13.6% during the 4th quarter. Victory Capital Management Inc. now owns 37,224 shares of the company’s stock valued at $1,101,000 after purchasing an additional 4,469 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Cadence Bank by 38.9% during the 4th quarter. Natixis Advisors L.P. now owns 292,530 shares of the company’s stock valued at $8,655,000 after purchasing an additional 81,948 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CADE has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price target on Cadence Bank from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group cut their target price on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. DA Davidson boosted their target price on Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Hovde Group boosted their target price on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their target price on Cadence Bank from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Cadence Bank Stock Performance

Cadence Bank stock traded up $0.12 during trading on Friday, hitting $32.28. The stock had a trading volume of 1,248,983 shares, compared to its average volume of 1,079,747. The stock’s 50 day moving average is $30.43 and its two-hundred day moving average is $28.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. Cadence Bank has a 1 year low of $19.67 and a 1 year high of $34.13. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 10.31 and a beta of 0.98.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, July 22nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The business had revenue of $742.87 million for the quarter, compared to analysts’ expectations of $439.63 million. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, analysts predict that Cadence Bank will post 2.56 EPS for the current year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. Cadence Bank’s payout ratio is 31.95%.

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.