Howard Financial Services LTD. Has $1.48 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Howard Financial Services LTD. trimmed its stake in Cadence Bank (NYSE:CADEFree Report) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,090 shares of the company’s stock after selling 10,000 shares during the quarter. Howard Financial Services LTD.’s holdings in Cadence Bank were worth $1,482,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Cadence Bank in the third quarter worth $25,000. State of Wyoming acquired a new position in shares of Cadence Bank during the fourth quarter valued at about $25,000. Fifth Third Bancorp grew its holdings in shares of Cadence Bank by 165.8% during the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after buying an additional 905 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Cadence Bank by 102.9% during the second quarter. Sunbelt Securities Inc. now owns 1,800 shares of the company’s stock valued at $35,000 after buying an additional 913 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its holdings in shares of Cadence Bank by 166.6% during the third quarter. Ronald Blue Trust Inc. now owns 3,674 shares of the company’s stock valued at $72,000 after buying an additional 2,296 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Cadence Bank Stock Performance

Shares of NYSE CADE traded up $0.22 during midday trading on Friday, hitting $27.05. The company’s stock had a trading volume of 4,026,652 shares, compared to its average volume of 1,519,966. The stock has a fifty day moving average price of $27.68 and a 200 day moving average price of $25.33. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 9.30 and a beta of 1.01. Cadence Bank has a one year low of $16.95 and a one year high of $31.45.

Cadence Bank (NYSE:CADEGet Free Report) last posted its earnings results on Monday, January 29th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). The firm had revenue of $23.15 million for the quarter, compared to the consensus estimate of $433.99 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. On average, research analysts forecast that Cadence Bank will post 2.42 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.24. Cadence Bank’s dividend payout ratio is 34.36%.

Analysts Set New Price Targets

CADE has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Cadence Bank in a report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price objective for the company. TheStreet cut shares of Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th. Stephens restated an “overweight” rating and set a $32.00 price target on shares of Cadence Bank in a report on Tuesday, January 30th. DA Davidson restated a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Finally, Hovde Group cut shares of Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price target on the stock. in a report on Tuesday, January 30th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

Read Our Latest Research Report on CADE

Cadence Bank Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)

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