Inscription Capital LLC Purchases New Shares in Cadence Bank (NYSE:CADE)

Inscription Capital LLC purchased a new stake in shares of Cadence Bank (NYSE:CADE) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 15,000 shares of the company’s stock, valued at approximately $427,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Cadence Bank by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,330,388 shares of the company’s stock valued at $571,986,000 after purchasing an additional 157,523 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cadence Bank by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock worth $273,421,000 after acquiring an additional 376,989 shares in the last quarter. Wellington Management Group LLP grew its holdings in Cadence Bank by 7.3% during the 4th quarter. Wellington Management Group LLP now owns 8,402,615 shares of the company’s stock worth $248,633,000 after acquiring an additional 574,633 shares in the last quarter. Norges Bank acquired a new position in Cadence Bank during the 4th quarter worth $60,490,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cadence Bank by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,017,359 shares of the company’s stock worth $59,694,000 after acquiring an additional 77,563 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Stock Up 1.0 %

CADE stock opened at $27.53 on Friday. Cadence Bank has a 52 week low of $18.97 and a 52 week high of $31.45. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 8.80 and a beta of 0.99. The firm’s 50-day moving average is $28.23 and its two-hundred day moving average is $28.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank (NYSE:CADE) last released its earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The business had revenue of $437.69 million for the quarter, compared to the consensus estimate of $427.18 million. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts forecast that Cadence Bank will post 2.48 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.63%. Cadence Bank’s payout ratio is currently 31.95%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays raised their price objective on shares of Cadence Bank from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 price target on shares of Cadence Bank in a report on Tuesday, April 9th. Stephens reaffirmed an “overweight” rating and issued a $33.00 price target on shares of Cadence Bank in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Hovde Group raised shares of Cadence Bank from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $32.50 to $33.00 in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.09.

About Cadence Bank

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.