Natixis Advisors LLC Sells 2,432 Shares of Cadence Bank (NYSE:CADE)

Natixis Advisors LLC decreased its position in Cadence Bank (NYSE:CADE) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 483,690 shares of the company’s stock after selling 2,432 shares during the quarter. Natixis Advisors LLC’s holdings in Cadence Bank were worth $16,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Ironwood Investment Management LLC raised its position in shares of Cadence Bank by 1.2% in the fourth quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company’s stock valued at $1,039,000 after purchasing an additional 354 shares during the period. Swiss National Bank increased its position in Cadence Bank by 0.8% during the fourth quarter. Swiss National Bank now owns 359,453 shares of the company’s stock worth $12,383,000 after acquiring an additional 2,700 shares during the period. HighTower Advisors LLC increased its position in Cadence Bank by 3.0% during the fourth quarter. HighTower Advisors LLC now owns 45,265 shares of the company’s stock worth $1,559,000 after acquiring an additional 1,325 shares during the period. Wealthfront Advisers LLC bought a new position in Cadence Bank during the fourth quarter worth $204,000. Finally, King Luther Capital Management Corp increased its position in Cadence Bank by 0.8% during the fourth quarter. King Luther Capital Management Corp now owns 126,436 shares of the company’s stock worth $4,356,000 after acquiring an additional 1,012 shares during the period. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Performance

CADE opened at $30.26 on Wednesday. The firm’s 50-day simple moving average is $33.59 and its 200-day simple moving average is $34.07. Cadence Bank has a twelve month low of $26.16 and a twelve month high of $40.20. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 10.92 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last posted its 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 net margin of 18.03% and a return on equity of 9.87%. During the same period last year, the business posted $0.40 EPS. As a group, sell-side analysts anticipate that Cadence Bank will post 2.94 EPS 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 positive change 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 3.64%. Cadence Bank’s dividend payout ratio is presently 39.71%.

Wall Street Analyst Weigh In

CADE has been the topic of a number of research reports. Citigroup boosted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Morgan Stanley dropped their target price on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cadence Bank currently has an average rating of “Moderate Buy” and an average price target of $38.77.

Cadence Bank 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.