Securian Asset Management Inc. Sells 353 Shares of Cadence Bank (NYSE:CADE)

Securian Asset Management Inc. cut its stake in shares of Cadence Bank (NYSE:CADE) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,832 shares of the company’s stock after selling 353 shares during the quarter. Securian Asset Management Inc.’s holdings in Cadence Bank were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its holdings in shares of Cadence Bank by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock worth $1,284,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cadence Bank by 19.3% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after purchasing an additional 301 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Cadence Bank by 0.8% in the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company’s stock worth $1,827,000 after purchasing an additional 415 shares in the last quarter. KBC Group NV increased its position 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 valued at $160,000 after purchasing an additional 519 shares during the last quarter. Finally, Algert Global LLC raised its holdings 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 valued at $603,000 after buying an additional 522 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Performance

CADE opened at $30.30 on Tuesday. The stock has a market capitalization of $5.52 billion, a PE ratio of 10.94 and a beta of 0.96. The stock’s 50 day moving average price is $33.68 and its 200-day moving average price is $34.08. Cadence Bank has a 52-week low of $26.16 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 company posted $0.40 EPS. Research analysts forecast 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. Shareholders of record on Friday, March 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.63%. Cadence Bank’s dividend payout ratio (DPR) is 39.71%.

Analyst Ratings Changes

CADE has been the topic of a number of recent research reports. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup boosted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Finally, Morgan Stanley decreased their price objective on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.77.

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.