Concurrent Investment Advisors LLC Sells 7,692 Shares of Cadence Bank (NYSE:CADE)

Concurrent Investment Advisors LLC lessened its holdings in shares of Cadence Bank (NYSE:CADE) by 19.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,524 shares of the company’s stock after selling 7,692 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Cadence Bank were worth $1,086,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Cadence Bank in the fourth quarter worth about $26,000. Mather Group LLC. lifted its holdings in shares of Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after buying an additional 709 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in shares of Cadence Bank in the fourth quarter worth about $31,000. Point72 Hong Kong Ltd purchased a new stake in shares of Cadence Bank in the third quarter worth about $32,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Cadence Bank by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after buying an additional 301 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $33.05 on Friday. Cadence Bank has a one year low of $26.16 and a one year high of $40.20. The firm’s 50 day simple moving average is $34.83 and its two-hundred day simple moving average is $34.02. The stock has a market capitalization of $6.02 billion, a P/E ratio of 11.93 and a beta of 0.99.

Cadence Bank (NYSE:CADE) last issued its quarterly 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 net margin of 18.03% and a return on equity of 9.87%. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.275 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.33%. Cadence Bank’s dividend payout ratio (DPR) is currently 36.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Citigroup raised their target price on shares of 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 reaffirmed a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and an average price target of $38.50.

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.