Fisher Asset Management LLC Sells 83,535 Shares of Cadence Bank $CADE

Fisher Asset Management LLC decreased its position in Cadence Bank (NYSE:CADE) by 5.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,402,956 shares of the company’s stock after selling 83,535 shares during the period. Fisher Asset Management LLC’s holdings in Cadence Bank were worth $52,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of CADE. Mather Group LLC. acquired a new position in shares of Cadence Bank in the third quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Cadence Bank in the 3rd quarter valued at $38,000. Cullen Frost Bankers Inc. bought a new position in shares of Cadence Bank during the 3rd quarter worth about $39,000. Osaic Holdings Inc. boosted its position in shares of Cadence Bank by 24.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock valued at $46,000 after acquiring an additional 283 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Cadence Bank by 126.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,341 shares of the company’s stock valued at $50,000 after acquiring an additional 748 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Down 1.6%

CADE opened at $42.14 on Wednesday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 14.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $43.11 and its 200-day simple moving average is $40.16. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $46.74.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. The firm had revenue of $528.41 million for the quarter, compared to analysts’ expectations of $525.15 million. Cadence Bank had a net margin of 18.12% and a return on equity of 10.16%. During the same period in the prior year, the firm earned $0.70 earnings per share. Equities research analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, January 30th were given a $0.3438 dividend. This represents a $1.38 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, January 30th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.28. Cadence Bank’s dividend payout ratio is presently 39.01%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.88.

About Cadence Bank

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.