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

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

Several other institutional investors also recently bought and sold shares of CADE. Oregon Public Employees Retirement Fund lifted its position in Cadence Bank by 0.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock valued at $1,284,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its position in Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after buying an additional 301 shares during the period. Ironwood Investment Management LLC grew its holdings in Cadence Bank by 1.2% in the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company’s stock worth $1,039,000 after acquiring an additional 354 shares during the last quarter. Arizona State Retirement System increased its position in shares of Cadence Bank by 0.8% in the fourth quarter. Arizona State Retirement System now owns 53,034 shares of the company’s stock valued at $1,827,000 after acquiring an additional 415 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of Cadence Bank by 1.4% during the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after acquiring an additional 599 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Hovde Group reduced their price target on 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 upped their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Morgan Stanley reduced their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Barclays dropped their target price on shares of Cadence Bank from $44.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.09.

Cadence Bank Stock Performance

Shares of CADE opened at $26.28 on Wednesday. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20. The firm’s 50-day simple moving average is $31.75 and its two-hundred day simple moving average is $33.81. The stock has a market cap of $4.79 billion, a PE ratio of 9.49 and a beta of 0.87.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 prior year, the company posted $0.40 EPS. Equities research analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 4.19%. Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%.

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.