Inscription Capital LLC Takes $435,000 Position in Cadence Bank (NYSE:CADE)

Inscription Capital LLC bought a new position in shares of Cadence Bank (NYSE:CADE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the company's stock, valued at approximately $435,000.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System boosted its holdings in Cadence Bank by 5.9% during the fourth quarter. New York State Teachers Retirement System now owns 236,546 shares of the company's stock valued at $8,149,000 after acquiring an additional 13,187 shares during the period. Rhumbline Advisers boosted its holdings in Cadence Bank by 2.2% during the fourth quarter. Rhumbline Advisers now owns 624,177 shares of the company's stock valued at $21,503,000 after acquiring an additional 13,507 shares during the period. Callahan Advisors LLC bought a new stake in Cadence Bank during the fourth quarter valued at about $225,000. Handelsbanken Fonder AB boosted its holdings in Cadence Bank by 19.0% during the fourth quarter. Handelsbanken Fonder AB now owns 40,058 shares of the company's stock valued at $1,380,000 after acquiring an additional 6,400 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Cadence Bank by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,836,594 shares of the company's stock valued at $63,271,000 after acquiring an additional 62,026 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Price Performance

CADE traded up $0.01 during midday trading on Friday, reaching $30.29. 3,529,572 shares of the company's stock were exchanged, compared to its average volume of 1,287,369. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 10.63 and a beta of 0.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The business has a 50-day simple moving average of $30.12 and a two-hundred day simple moving average of $32.05.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.07. The firm had revenue of $448.55 million during the quarter, compared to analysts' expectations of $451.61 million. Cadence Bank had a net margin of 18.83% and a return on equity of 9.95%. During the same quarter last year, the company earned $0.62 earnings per share. As a group, research analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank declared that its board has initiated a share repurchase plan on Friday, April 25th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, June 13th. Cadence Bank's dividend payout ratio is 38.60%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CADE. Wall Street Zen cut shares of Cadence Bank from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Keefe, Bruyette & Woods upped their price target on shares of Cadence Bank from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Hovde Group upped their price target on shares of Cadence Bank from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Royal Bank Of Canada reduced their target price on shares of Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Stephens reiterated an "overweight" rating and issued a $40.00 target price on shares of Cadence Bank in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.82.

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.