Fisher Asset Management LLC Has $47.54 Million Holdings in Cadence Bank $CADE

Fisher Asset Management LLC reduced its position in shares of Cadence Bank (NYSE:CADE) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,486,491 shares of the company’s stock after selling 112,830 shares during the period. Fisher Asset Management LLC owned approximately 0.82% of Cadence Bank worth $47,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CADE. FNY Investment Advisers LLC bought a new position in Cadence Bank in the second quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Cadence Bank in the first quarter valued at about $40,000. Nomura Asset Management Co. Ltd. raised its holdings in Cadence Bank by 47.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,870 shares of the company’s stock valued at $60,000 after buying an additional 600 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Cadence Bank during the second quarter worth $65,000. Finally, Americana Partners LLC bought a new stake in shares of Cadence Bank in the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Price Performance

CADE stock opened at $40.54 on Wednesday. The firm has a 50 day simple moving average of $38.03 and a two-hundred day simple moving average of $35.54. The stock has a market cap of $7.39 billion, a PE ratio of 14.69 and a beta of 0.97. Cadence Bank has a one year low of $25.22 and a one year high of $40.83.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $517.24 million during the quarter, compared to analyst estimates of $523.60 million. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. During the same period in the previous year, the business posted $0.73 EPS. On average, research analysts expect that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.10 dividend on an annualized basis and a yield of 2.7%. Cadence Bank’s dividend payout ratio (DPR) is presently 39.86%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CADE shares. Piper Sandler set a $40.00 price objective on shares of Cadence Bank and gave the stock a “neutral” rating in a research report on Monday, October 27th. Zacks Research cut shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Barclays downgraded Cadence Bank from an “overweight” rating to a “hold” rating in a report on Tuesday, October 28th. Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods downgraded Cadence Bank from a “moderate buy” rating to a “hold” rating and upped their price target for the stock from $41.00 to $49.00 in a report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.33.

Cadence Bank Company 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.