Fisher Asset Management LLC Has $57.04 Million Stock Holdings in Cadence Bank (NYSE:CADE)

Fisher Asset Management LLC boosted its position in Cadence Bank (NYSE:CADE) by 19.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,655,847 shares of the company’s stock after acquiring an additional 264,691 shares during the quarter. Fisher Asset Management LLC’s holdings in Cadence Bank were worth $57,044,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Cadence Bank by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after acquiring an additional 39,679 shares in the last quarter. Cerity Partners LLC grew its position in Cadence Bank by 31.2% in the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after purchasing an additional 15,312 shares during the period. Stifel Financial Corp increased its stake in Cadence Bank by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after purchasing an additional 3,218 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Cadence Bank by 16.3% during the third 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, Franklin Resources Inc. acquired a new position in Cadence Bank during the third quarter worth $947,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Trading Up 1.6 %

CADE stock opened at $33.17 on Friday. The stock has a market cap of $6.04 billion, a P/E ratio of 11.97 and a beta of 0.99. The stock’s fifty day simple moving average is $34.62 and its two-hundred day simple moving average is $34.14. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the prior year, the company posted $0.40 EPS. As a group, analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.32%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analysts Forecast Growth

CADE has been the subject of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lifted their target price on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.