Campbell & CO Investment Adviser LLC Makes New Investment in Cadence Bank $CADE

Campbell & CO Investment Adviser LLC purchased a new stake in Cadence Bank (NYSE:CADE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 22,227 shares of the company’s stock, valued at approximately $711,000.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in Cadence Bank by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 61,668 shares of the company’s stock valued at $1,872,000 after purchasing an additional 923 shares during the period. CWM LLC raised its position in Cadence Bank by 49.8% in the 1st quarter. CWM LLC now owns 5,799 shares of the company’s stock valued at $176,000 after purchasing an additional 1,928 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Cadence Bank in the 1st quarter valued at about $1,420,000. Victory Capital Management Inc. boosted its stake in shares of Cadence Bank by 107.2% in the 1st quarter. Victory Capital Management Inc. now owns 104,514 shares of the company’s stock valued at $3,173,000 after buying an additional 54,061 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Cadence Bank by 4.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 167,627 shares of the company’s stock worth $5,089,000 after buying an additional 7,829 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

Cadence Bank stock opened at $38.36 on Friday. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $40.23. The stock has a market capitalization of $6.99 billion, a PE ratio of 13.90 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $37.62 and a 200-day simple moving average of $34.80.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. The business had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. During the same period in the previous year, the business posted $0.73 earnings per share. Equities analysts predict that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.9%. Cadence Bank’s dividend payout ratio is 39.86%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CADE shares. Zacks Research cut shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded shares of Cadence Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Barclays lowered Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada raised shares of Cadence Bank from a “hold” rating to a “moderate buy” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.33.

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.