Academy Capital Management Makes New $670,000 Investment in Cadence Bank $CADE

Academy Capital Management acquired a new position in Cadence Bank (NYSE:CADE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,950 shares of the company’s stock, valued at approximately $670,000. Cadence Bank comprises approximately 0.1% of Academy Capital Management’s portfolio, making the stock its 27th biggest holding.

Other large investors have also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Cadence Bank during the 2nd quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Cadence Bank during the 1st quarter valued at approximately $40,000. GAMMA Investing LLC increased its position in shares of Cadence Bank by 55.3% during the 1st quarter. GAMMA Investing LLC now owns 2,892 shares of the company’s stock valued at $88,000 after purchasing an additional 1,030 shares during the last quarter. CWM LLC increased its position in shares of Cadence Bank by 49.8% during 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 during the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Cadence Bank by 30.4% during the 1st quarter. TD Private Client Wealth LLC now owns 6,308 shares of the company’s stock valued at $192,000 after purchasing an additional 1,472 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CADE. Royal Bank Of Canada boosted their target price on Cadence Bank from $37.00 to $43.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Morgan Stanley boosted their target price on Cadence Bank from $38.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a research report on Friday. Hovde Group upped their price objective on Cadence Bank from $34.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, July 28th. Finally, Wall Street Zen downgraded Cadence Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.44.

Cadence Bank Price Performance

Shares of CADE stock opened at $36.51 on Monday. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.23. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 13.23 and a beta of 0.88. The stock has a fifty day simple moving average of $37.34 and a two-hundred day simple moving average of $33.81. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25.

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

Cadence Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 15th. Cadence Bank’s dividend payout ratio is currently 39.86%.

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.