Post Merger, Cadence Bank (CADE) Becomes the Sixth Largest Bank in its Nine States Footprint

Bernzott Capital Advisors, an investment management company, released its “US Small Cap Value Strategy’’ second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, on a net basis, the fund fell -17.73%, more than the R2000V’s decline of -15.28% and R2500V’s decline of -15.39%. Industrials and healthcare sectors contributed positively to the fund’s relative performance, whereas transportation, materials, and financials sectors hurt the fund’s performance.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Bernzott Capital Advisors discussed stocks like Cadence Bank (NYSE:CADE) in the second quarter investor letter. Headquartered in Tupelo, Mississippi, Cadence Bank (NYSE:CADE) is a banking and financial services company. On September 8, 2022, Cadence Bank (NYSE:CADE) stock closed at $25.89 per share. One-month return of Cadence Bank (NYSE:CADE)  was -5.75% and its shares lost 11.64% of their value over the last 52 weeks. Cadence Bank (NYSE:CADE)  has a market capitalization of $4.724 billion.

Here is what Bernzott Capital Advisors specifically said about Cadence Bank (NYSE:CADE)  in its Q2 2022 investor letter:

“Cadence Bank (NYSE:CADE): Its merger of equals with BancorpSouth combines two long-standing franchises forming the sixth largest bank in its nine-state footprint in the attractive southeast market. The merger should offer revenue and cost synergies as the integration is executed over the coming quarters. This asset sensitive bank generates approximately one-third of revenues from feebased businesses such as wealth management and trust services which provides diversification and improves durability of financial results. The stock trades at a discount to peers and sports a 3.5% dividend yield.”

Cadence Bank (NYSE:CADE) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Cadence Bank (NYSE:CADE) was held by 23 hedge fund portfolios at the end of the second quarter, which was 25 in the previous quarter.

We discussed Cadence Bank (NYSE:CADE) in another article and shared the list of stocks to buy according to William Dollens’ Global Frontier Investments. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.