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

Fisher Asset Management LLC trimmed its holdings in Cadence Bank (NYSE:CADE) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,402,956 shares of the company’s stock after selling 83,535 shares during the period. Fisher Asset Management LLC owned 0.77% of Cadence Bank worth $52,667,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Cadence Bank by 2.5% in the second quarter. Geode Capital Management LLC now owns 4,664,361 shares of the company’s stock worth $149,182,000 after purchasing an additional 113,593 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cadence Bank by 1.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,931,570 shares of the company’s stock worth $110,051,000 after acquiring an additional 34,750 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Cadence Bank by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,831,131 shares of the company’s stock worth $85,953,000 after acquiring an additional 244,146 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Cadence Bank by 11.5% during the 2nd quarter. First Trust Advisors LP now owns 2,587,221 shares of the company’s stock valued at $82,739,000 after acquiring an additional 266,621 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Cadence Bank by 196.8% in the 3rd quarter. William Blair Investment Management LLC now owns 2,544,499 shares of the company’s stock valued at $95,520,000 after acquiring an additional 1,687,329 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Bank currently has a consensus rating of “Hold” and a consensus price target of $42.88.

Cadence Bank Price Performance

NYSE CADE opened at $42.14 on Wednesday. The stock has a 50-day simple moving average of $43.11 and a 200 day simple moving average of $40.16. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $46.74. The stock has a market capitalization of $7.68 billion, a PE 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.

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

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, January 30th were issued a $0.3438 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.38 dividend on an annualized basis and a yield of 3.3%. Cadence Bank’s payout ratio is currently 39.01%.

Cadence Bank Profile

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.