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

Fisher Asset Management LLC lifted its stake in shares of Cadence Bank (NYSE:CADE - Free Report) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,655,847 shares of the company's stock after acquiring an additional 264,691 shares during the period. Fisher Asset Management LLC owned approximately 0.91% of Cadence Bank worth $57,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Cadence Bank in the 4th quarter valued at approximately $26,000. Mather Group LLC. raised its holdings in shares of Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company's stock valued at $28,000 after purchasing an additional 709 shares during the last quarter. Keystone Financial Group Inc. bought a new stake in shares of Cadence Bank in the fourth quarter worth $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Cadence Bank in the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Cadence Bank by 504.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company's stock worth $59,000 after purchasing an additional 1,434 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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Cadence Bank Stock Performance

CADE traded up $0.17 during trading hours on Wednesday, reaching $31.28. The company's stock had a trading volume of 1,183,154 shares, compared to its average volume of 1,167,973. The company's 50-day moving average is $34.50 and its 200-day moving average is $34.19. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The firm has a market cap of $5.70 billion, a PE ratio of 11.29 and a beta of 0.96.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm earned $0.40 EPS. Equities analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's payout ratio is currently 39.71%.

Cadence Bank 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.