Stieven Capital Advisors L.P. Sells 16,436 Shares of Cadence Bank (NYSE:CADE)

Stieven Capital Advisors L.P. trimmed its position in shares of Cadence Bank (NYSE:CADE) by 5.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 261,468 shares of the company’s stock after selling 16,436 shares during the quarter. Cadence Bank makes up 1.6% of Stieven Capital Advisors L.P.’s holdings, making the stock its 28th largest holding. Stieven Capital Advisors L.P.’s holdings in Cadence Bank were worth $8,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CADE. V Square Quantitative Management LLC purchased a new stake in shares of Cadence Bank in the 3rd quarter worth $25,000. GAMMA Investing LLC increased its stake in Cadence Bank by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after buying an additional 436 shares in the last quarter. Innealta Capital LLC purchased a new stake in Cadence Bank in the 2nd quarter worth $138,000. KBC Group NV increased its stake in Cadence Bank by 11.5% in 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 in the last quarter. Finally, Americana Partners LLC purchased a new stake in Cadence Bank in the 3rd quarter worth $201,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CADE shares. Hovde Group increased their price target on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $36.00 to $39.00 in a report on Monday, September 30th. Stephens reissued an “overweight” rating and set a $35.00 price objective on shares of Cadence Bank in a report on Tuesday, July 23rd. 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 report on Wednesday, October 23rd. Finally, Barclays increased their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.29.

Cadence Bank Stock Down 0.8 %

Shares of NYSE CADE opened at $37.70 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $6.87 billion, a P/E ratio of 10.83 and a beta of 0.95. Cadence Bank has a 1 year low of $24.15 and a 1 year high of $39.79. The firm has a 50-day simple moving average of $33.14 and a two-hundred day simple moving average of $30.87.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The business had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. Research analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

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.