Fox Run Management L.L.C. Invests $726,000 in Cadence Bank $CADE

Key Points

• Fox Run Management L.L.C. has invested $726,000 in Cadence Bank, acquiring 23,914 shares during the first quarter.
• Cadence Bank announced a quarterly dividend of $0.275 per share and has a stock buyback program authorized to repurchase up to 10 million shares.
• Analysts have varying ratings on Cadence Bank, with one analyst issuing a "sell" rating, three rating it a "hold," and seven giving it a "buy" rating, resulting in a consensus average rating of **"Moderate Buy."**

Fox Run Management L.L.C. purchased a new position in shares of Cadence Bank (NYSE:CADE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,914 shares of the company's stock, valued at approximately $726,000.

Several other large investors have also added to or reduced their stakes in the business. Abound Wealth Management raised its holdings in Cadence Bank by 223.3% during the first quarter. Abound Wealth Management now owns 1,665 shares of the company's stock worth $51,000 after acquiring an additional 1,150 shares in the last quarter. UMB Bank n.a. raised its stake 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 worth $54,000 after purchasing an additional 1,116 shares in the last quarter. State of Wyoming boosted its holdings in shares of Cadence Bank by 172.4% in the 4th quarter. State of Wyoming now owns 2,359 shares of the company's stock valued at $81,000 after buying an additional 1,493 shares during the last quarter. GAMMA Investing LLC increased its holdings in Cadence Bank by 55.3% during the first quarter. GAMMA Investing LLC now owns 2,892 shares of the company's stock worth $88,000 after buying an additional 1,030 shares during the last quarter. Finally, CX Institutional bought a new stake in Cadence Bank during the first quarter worth $122,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Cadence Bank Price Performance

Shares of NYSE CADE traded up $1.9080 during trading hours on Friday, hitting $37.2480. 424,184 shares of the stock were exchanged, compared to its average volume of 1,451,484. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $6.79 billion, a PE ratio of 13.27 and a beta of 0.89. The company's fifty day simple moving average is $34.02 and its two-hundred day simple moving average is $31.87. 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 released its earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.04. The firm had revenue of $476.32 million during the quarter, compared to analysts' expectations of $467.60 million. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.During the same period in the prior year, the company earned $0.73 earnings per share. On average, sell-side analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank announced that its board has authorized a share repurchase plan on Friday, April 25th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, September 15th. Cadence Bank's payout ratio is currently 39.15%.

Analyst Ratings Changes

A number of brokerages have recently commented on CADE. DA Davidson lifted their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Hovde Group increased their price target on shares of Cadence Bank from $34.00 to $40.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Stephens boosted their price objective on Cadence Bank from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Wall Street Zen lowered Cadence Bank from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Piper Sandler lifted their price target on Cadence Bank from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.40.

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.