Cadence Bank (NYSE:CADE) Shares Sold by Mustard Seed Financial LLC

Mustard Seed Financial LLC decreased its position in Cadence Bank (NYSE:CADE) by 19.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,468 shares of the company’s stock after selling 6,761 shares during the period. Cadence Bank makes up approximately 0.8% of Mustard Seed Financial LLC’s investment portfolio, making the stock its 29th largest position. Mustard Seed Financial LLC’s holdings in Cadence Bank were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after buying an additional 39,679 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock worth $2,050,000 after purchasing an additional 15,312 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Cadence Bank by 18.1% during the third quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after purchasing an additional 3,218 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Cadence Bank by 16.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after purchasing an additional 291,885 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Cadence Bank in the third quarter worth about $947,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Truist Financial raised their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upped their target price on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Finally, DA Davidson upped their price objective on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.32.

Cadence Bank Price Performance

NYSE CADE opened at $35.93 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The company has a market cap of $6.55 billion, a PE ratio of 10.32 and a beta of 1.00. The stock’s 50-day moving average price is $36.11 and its two-hundred day moving average price is $33.46.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data 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 25.99% and a return on equity of 8.95%. During the same quarter in the previous year, the business posted $0.40 EPS. On average, analysts predict that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Wednesday, February 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.06%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is presently 28.74%.

Cadence Bank Company 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.