Corient Private Wealth LLC Sells 11,850 Shares of Cadence Bank (NYSE:CADE)

Corient Private Wealth LLC reduced its stake in shares of Cadence Bank (NYSE:CADE) by 32.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,558 shares of the company’s stock after selling 11,850 shares during the period. Corient Private Wealth LLC’s holdings in Cadence Bank were worth $846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Cadence Bank during the 4th quarter worth about $26,000. Mather Group LLC. boosted its position in shares of Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in Cadence Bank during the fourth quarter worth approximately $31,000. Point72 Hong Kong Ltd bought a new stake in Cadence Bank in the third quarter worth approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its stake in Cadence Bank by 163.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after buying an additional 722 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CADE has been the subject of several research analyst reports. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Citigroup lifted their price target 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. Keefe, Bruyette & Woods increased their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.77.

Cadence Bank Stock Down 0.9 %

Shares of NYSE:CADE opened at $30.77 on Friday. The business’s 50 day moving average is $33.03 and its 200 day moving average is $33.99. Cadence Bank has a 12-month low of $26.16 and a 12-month high of $40.20. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 11.11 and a beta of 0.96.

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

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.275 dividend. 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. This represents a $1.10 annualized dividend and a yield of 3.58%. Cadence Bank’s dividend payout ratio (DPR) is 39.71%.

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.