Cadence Bank (NYSE:CADE) Stock Price Down 4.4% – Should You Sell?

Cadence Bank (NYSE:CADE) fell 4.4% during mid-day trading on Thursday . The company traded as low as $34.19 and last traded at $34.32. 722,813 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,219,983 shares. The stock had previously closed at $35.91.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a report on Friday. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. DA Davidson boosted their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted 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. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.14.

Cadence Bank Stock Performance

The company has a market capitalization of $6.40 billion, a PE ratio of 12.68 and a beta of 1.00. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $33.52.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.98%. During the same period in the previous year, the business posted $0.40 earnings per share. On average, research analysts predict that Cadence Bank will post 2.87 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio is presently 36.10%.

Institutional Investors Weigh In On Cadence Bank

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after acquiring an additional 301 shares in the last quarter. KBC Group NV raised its stake in shares of Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after acquiring an additional 519 shares in the last quarter. Algert Global LLC raised its stake in shares of Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after acquiring an additional 522 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Cadence Bank by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after acquiring an additional 599 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Cadence Bank by 3.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,970 shares of the company’s stock worth $722,000 after acquiring an additional 715 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.