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

Cadence Bank (NYSE:CADE)’s stock price fell 4.4% during mid-day trading on Thursday . The stock traded as low as $34.19 and last traded at $34.32. 722,813 shares changed 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.

Wall Street Analyst Weigh In

CADE has been the subject of several analyst reports. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. DA Davidson upped their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday. Finally, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a report on Thursday. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.14.

Cadence Bank Stock Up 2.6 %

The company has a market cap of $6.40 billion, a P/E ratio of 12.68 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average is $35.98 and its two-hundred day moving average is $33.52.

Cadence Bank (NYSE:CADE) last issued its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (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 9.98%. During the same period in the previous year, the company earned $0.40 EPS. As a group, equities analysts predict that Cadence Bank will post 2.87 earnings per share for the current fiscal 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 paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is currently 36.10%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its position in shares of Cadence Bank by 1.2% during the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after purchasing an additional 195,773 shares during the period. State Street Corp raised its position in shares of Cadence Bank by 1.9% during the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company’s stock valued at $284,759,000 after purchasing an additional 165,282 shares during the period. Geode Capital Management LLC raised its position in shares of Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after purchasing an additional 39,679 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cadence Bank by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock valued at $71,423,000 after purchasing an additional 105,231 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Cadence Bank by 16.3% during the 3rd 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 during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.