Academy Capital Management Acquires New Holdings in Cadence Bank $CADE

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

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sheets Smith Wealth Management boosted its position in Cadence Bank by 2.6% during the second quarter. Sheets Smith Wealth Management now owns 18,040 shares of the company’s stock valued at $577,000 after purchasing an additional 464 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cadence Bank by 0.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,634 shares of the company’s stock valued at $1,568,000 after purchasing an additional 480 shares in the last quarter. Xponance Inc. boosted its position in Cadence Bank by 2.3% during the first quarter. Xponance Inc. now owns 26,415 shares of the company’s stock valued at $802,000 after purchasing an additional 587 shares in the last quarter. State of Michigan Retirement System boosted its position in Cadence Bank by 1.4% during the first quarter. State of Michigan Retirement System now owns 43,910 shares of the company’s stock valued at $1,333,000 after purchasing an additional 600 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Cadence Bank by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 51,400 shares of the company’s stock valued at $1,561,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CADE has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Cadence Bank from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Stephens increased their price target on Cadence Bank from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Morgan Stanley increased their price target on Cadence Bank from $38.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Bank in a research note on Friday. Finally, Royal Bank Of Canada increased their price target on Cadence Bank from $37.00 to $43.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Cadence Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

Cadence Bank Trading Up 3.1%

Shares of NYSE:CADE opened at $36.51 on Monday. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.23. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 13.23 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $37.34 and a 200-day moving average price of $33.81.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share (EPS) 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 firm had revenue of $517.24 million during the quarter, compared to analysts’ expectations of $523.60 million. During the same period last year, the business posted $0.73 earnings per share. Equities analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid 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 (DPR) is presently 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.