Fisher Asset Management LLC Sells 4,858 Shares of Cadence Bank (NYSE:CADE)

Fisher Asset Management LLC lowered its stake in shares of Cadence Bank (NYSE:CADE) by 0.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,391,156 shares of the company’s stock after selling 4,858 shares during the period. Fisher Asset Management LLC owned approximately 0.76% of Cadence Bank worth $44,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CADE. Dimensional Fund Advisors LP lifted its position in Cadence Bank by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock valued at $277,874,000 after purchasing an additional 593,878 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Cadence Bank by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company’s stock valued at $71,423,000 after buying an additional 105,231 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Cadence Bank by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,088,804 shares of the company’s stock valued at $59,071,000 after buying an additional 36,323 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cadence Bank by 16.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after buying an additional 291,885 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Cadence Bank by 21.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock worth $42,396,000 after acquiring an additional 237,748 shares during the period. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Price Performance

NYSE:CADE opened at $38.63 on Wednesday. The stock has a market cap of $7.04 billion, a PE ratio of 11.10 and a beta of 0.95. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $33.99 and its two-hundred day simple moving average is $31.26. Cadence Bank has a 52 week low of $24.15 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The company had revenue of $447.36 million for the quarter, compared to analysts’ expectations of $450.97 million. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.59%. Cadence Bank’s payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CADE shares. Barclays increased their target price on Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $36.00 to $39.00 in a report on Monday, September 30th. DA Davidson lifted their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.29.

About Cadence Bank

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.