Silverleafe Capital Partners LLC Sells 1,293 Shares of Cadence Bank (NYSE:CADE)

Silverleafe Capital Partners LLC decreased its position in shares of Cadence Bank (NYSE:CADE) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,176 shares of the company’s stock after selling 1,293 shares during the period. Cadence Bank makes up approximately 0.6% of Silverleafe Capital Partners LLC’s investment portfolio, making the stock its 28th biggest position. Silverleafe Capital Partners LLC’s holdings in Cadence Bank were worth $1,970,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CADE. Dimensional Fund Advisors LP boosted its stake in Cadence Bank by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock worth $277,874,000 after buying an additional 593,878 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Cadence Bank during the third quarter valued at approximately $11,727,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of 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 worth $66,360,000 after buying an additional 291,885 shares during the period. Segall Bryant & Hamill LLC lifted its stake in shares of Cadence Bank by 21.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock worth $42,396,000 after acquiring an additional 237,748 shares during the last quarter. Finally, FMR LLC boosted its holdings in Cadence Bank by 1.2% during the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after acquiring an additional 195,773 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Royal Bank of Canada increased their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson lifted their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.32.

Cadence Bank Stock Performance

CADE stock traded up $0.77 during midday trading on Monday, reaching $35.22. The stock had a trading volume of 226,543 shares, compared to its average volume of 732,802. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20. The stock has a market cap of $6.42 billion, a PE ratio of 10.12 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day simple moving average of $36.29 and a two-hundred day simple moving average of $32.85.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. The company had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. Cadence Bank’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. As a group, equities research analysts anticipate that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, December 13th. Cadence Bank’s payout ratio is 28.74%.

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.