Cadence Bank (NYSE:CADE) Shares Sold by Signaturefd LLC

Signaturefd LLC cut its holdings in shares of Cadence Bank (NYSE:CADE) by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,797 shares of the company’s stock after selling 11,998 shares during the period. Signaturefd LLC’s holdings in Cadence Bank were worth $438,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Cadence Bank by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after buying an additional 524 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Cadence Bank by 3.8% during the third quarter. Sheets Smith Wealth Management now owns 16,256 shares of the company’s stock valued at $345,000 after buying an additional 589 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Cadence Bank by 6.8% during the fourth quarter. AlphaMark Advisors LLC now owns 11,482 shares of the company’s stock valued at $340,000 after buying an additional 728 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Cadence Bank by 1.5% during the third quarter. Arizona State Retirement System now owns 52,032 shares of the company’s stock valued at $1,104,000 after buying an additional 789 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Cadence Bank by 165.8% during the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after buying an additional 905 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CADE. DA Davidson reaffirmed a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Hovde Group upgraded shares of Cadence Bank from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $32.50 to $33.00 in a research report on Wednesday. TheStreet downgraded shares of Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th. Stephens reiterated an “overweight” rating and issued a $33.00 price objective on shares of Cadence Bank in a report on Tuesday. Finally, Raymond James cut their price objective on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cadence Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.09.

Cadence Bank Stock Performance

Cadence Bank stock opened at $29.37 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 9.38 and a beta of 1.02. The firm has a 50 day simple moving average of $27.68 and a 200-day simple moving average of $26.53. Cadence Bank has a 1-year low of $16.95 and a 1-year high of $31.45.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 9.22%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, analysts expect that Cadence Bank will post 2.38 EPS for the current year.

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.