Yousif Capital Management LLC Cuts Stake in Cadence Bank (NYSE:CADE)

Yousif Capital Management LLC cut its holdings in shares of Cadence Bank (NYSE:CADE) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 64,247 shares of the company’s stock after selling 2,555 shares during the quarter. Yousif Capital Management LLC’s holdings in Cadence Bank were worth $2,213,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama raised its position in Cadence Bank by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 222,475 shares of the company’s stock worth $7,664,000 after purchasing an additional 867 shares during the period. Mather Group LLC. grew its stake in shares of Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after buying an additional 709 shares during the last quarter. Journey Strategic Wealth LLC purchased a new position in shares of Cadence Bank in the fourth quarter worth about $215,000. KBC Group NV lifted its stake in shares of Cadence Bank by 63.6% in the 4th quarter. KBC Group NV now owns 8,239 shares of the company’s stock valued at $284,000 after acquiring an additional 3,203 shares during the last quarter. Finally, RFG Advisory LLC boosted its holdings in Cadence Bank by 336.6% during the 4th quarter. RFG Advisory LLC now owns 38,930 shares of the company’s stock valued at $1,341,000 after acquiring an additional 30,014 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Performance

CADE stock opened at $35.13 on Tuesday. Cadence Bank has a fifty-two week low of $25.55 and a fifty-two week high of $40.20. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 12.68 and a beta of 0.99. The business’s 50 day moving average price is $35.33 and its two-hundred day moving average price is $33.85.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping 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 period in the previous year, the business earned $0.40 EPS. Sell-side analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.13%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CADE shares. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Citigroup increased their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Truist Financial increased their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, 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 report on Wednesday, December 4th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.