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

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

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Cadence Bank by 163.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock valued at $40,000 after purchasing an additional 722 shares during the last quarter. Abound Wealth Management lifted its position in shares of Cadence Bank by 223.3% during the 1st quarter. Abound Wealth Management now owns 1,665 shares of the company's stock valued at $51,000 after buying an additional 1,150 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Cadence Bank by 169.6% during the 1st quarter. UMB Bank n.a. now owns 1,774 shares of the company's stock valued at $54,000 after buying an additional 1,116 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Cadence Bank by 504.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company's stock worth $59,000 after acquiring an additional 1,434 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Cadence Bank by 1,601.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,718 shares of the company's stock worth $59,000 after acquiring an additional 1,617 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

CADE has been the subject of a number of research reports. Hovde Group increased their target price on shares of Cadence Bank from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley cut their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Royal Bank Of Canada lowered their target price on shares of Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen cut Cadence Bank from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.82.

Cadence Bank Price Performance

Shares of NYSE:CADE traded up $0.48 on Thursday, hitting $30.24. The company's stock had a trading volume of 1,230,912 shares, compared to its average volume of 1,284,218. The company has a market capitalization of $5.51 billion, a PE ratio of 10.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50-day simple moving average of $30.06 and a 200 day simple moving average of $32.14. Cadence Bank has a 1 year low of $25.22 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Monday, April 21st. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.07. Cadence Bank had a net margin of 18.83% and a return on equity of 9.95%. The business had revenue of $448.55 million for the quarter, compared to the consensus estimate of $451.61 million. During the same period last year, the firm posted $0.62 earnings per share. Sell-side analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, June 13th. Cadence Bank's dividend payout ratio (DPR) is currently 38.60%.

Cadence Bank declared that its Board of Directors has initiated a stock repurchase program on Friday, April 25th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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.