Arbor Investment Advisors LLC Decreases Stock Position in Cadence Bank (NYSE:CADE)

Arbor Investment Advisors LLC cut its stake in Cadence Bank (NYSE:CADE) by 6.9% in the fourth quarter, HoldingsChannel reports. The firm owned 71,917 shares of the company’s stock after selling 5,329 shares during the quarter. Cadence Bank makes up about 0.3% of Arbor Investment Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Arbor Investment Advisors LLC’s holdings in Cadence Bank were worth $2,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CADE. Point72 Asset Management L.P. purchased a new position in Cadence Bank in the third quarter valued at $11,727,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after purchasing an additional 291,885 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Cadence Bank by 21.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after purchasing an additional 237,748 shares during the period. FMR LLC raised its stake in Cadence Bank by 1.2% in the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after buying an additional 195,773 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Cadence Bank in the third quarter valued at $5,511,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods raised 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. Citigroup raised their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Finally, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cadence Bank presently has an average rating of “Moderate Buy” and an average price target of $38.50.

Cadence Bank Stock Down 1.9 %

NYSE CADE opened at $33.05 on Friday. Cadence Bank has a 52-week low of $26.16 and a 52-week high of $40.20. The business’s 50-day moving average price is $34.83 and its 200 day moving average price is $34.02. The firm has a market cap of $6.02 billion, a P/E ratio of 11.93 and a beta of 0.99.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.40 EPS. As a group, 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 issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.33%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is currently 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.