Trexquant Investment LP Sells 131,143 Shares of Cadence Bank (NYSE:CADE)

Trexquant Investment LP reduced its holdings in shares of Cadence Bank (NYSE:CADE) by 69.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,178 shares of the company’s stock after selling 131,143 shares during the quarter. Trexquant Investment LP’s holdings in Cadence Bank were worth $2,004,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Cadence Bank by 0.9% during the third 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 during the last quarter. Stifel Financial Corp grew its position in shares of Cadence Bank by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after acquiring an additional 3,218 shares during the period. Victory Capital Management Inc. increased its stake in shares of Cadence Bank by 1.4% during the 4th quarter. Victory Capital Management Inc. now owns 50,453 shares of the company’s stock worth $1,738,000 after purchasing an additional 685 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Cadence Bank in the 3rd quarter worth approximately $947,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cadence Bank by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company’s stock valued at $77,678,000 after purchasing an additional 12,309 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley lowered their target price on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Hovde Group dropped their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, April 2nd. Citigroup lifted their target price 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 reaffirmed a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a report on Friday, January 24th. Finally, Barclays lowered their target price on shares of Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and an average price target of $38.09.

Cadence Bank Price Performance

Shares of CADE opened at $26.28 on Wednesday. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.20. The company has a market capitalization of $4.79 billion, a P/E ratio of 9.49 and a beta of 0.87. The firm’s 50 day simple moving average is $31.75 and its 200 day simple moving average is $33.81.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS 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 period in the previous year, the firm earned $0.40 EPS. On average, equities analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.275 dividend. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.19%. Cadence Bank’s payout ratio is presently 39.71%.

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.