Loomis Sayles & Co. L P Sells 17,009 Shares of Cadence Bank (NYSE:CADE)

Loomis Sayles & Co. L P lowered its holdings in Cadence Bank (NYSE:CADE) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 403,676 shares of the company’s stock after selling 17,009 shares during the quarter. Loomis Sayles & Co. L P owned 0.22% of Cadence Bank worth $13,907,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Cadence Bank in the 4th quarter worth approximately $26,000. Mather Group LLC. raised its stake in Cadence Bank by 716.2% during the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after acquiring an additional 709 shares in the last quarter. Keystone Financial Group Inc. bought a new position in shares of Cadence Bank during the fourth quarter valued at $31,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cadence Bank in the 3rd quarter valued at $32,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Cadence Bank by 163.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after purchasing an additional 722 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CADE shares. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Stephens reissued 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 Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Morgan Stanley decreased their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods boosted their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.77.

Cadence Bank Price Performance

Shares of Cadence Bank stock opened at $30.12 on Friday. The company has a market capitalization of $5.49 billion, a P/E ratio of 10.87 and a beta of 0.96. The business has a 50-day moving average of $32.92 and a two-hundred day moving average of $33.99. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last announced its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS 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 quarter in the prior year, the company posted $0.40 EPS. On average, equities analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.275 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, March 14th. Cadence Bank’s payout ratio is currently 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.