United Services Automobile Association Sells 733 Shares of Cadence Bank (NYSE:CADE)

United Services Automobile Association lessened its holdings in shares of Cadence Bank (NYSE:CADE) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,791 shares of the company’s stock after selling 733 shares during the quarter. United Services Automobile Association’s holdings in Cadence Bank were worth $406,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CADE. Brooklyn Investment Group bought a new position in Cadence Bank in the 4th quarter worth approximately $26,000. Mather Group LLC. lifted its position in shares of 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 in the fourth quarter worth $31,000. Point72 Hong Kong Ltd purchased a new position in shares of Cadence Bank in the third quarter valued at $32,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after purchasing an additional 722 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Up 3.5 %

NYSE CADE opened at $31.38 on Tuesday. The stock’s 50-day simple moving average is $33.29 and its two-hundred day simple moving average is $34.03. Cadence Bank has a twelve month low of $26.16 and a twelve month high of $40.20. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 11.33 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the previous year, the business posted $0.40 EPS. On average, equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. Cadence Bank’s payout ratio is presently 39.71%.

Wall Street Analysts Forecast Growth

CADE has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley lowered their price objective on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.77.

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.