An investigation on behalf of investors of Cadence Bancorporation (NYSE: CADE) shares over potential securities laws violations by Cadence Bancorporation and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cadence Bancorporation (NYSE: CADE) concerning whether a series of statements by Cadence Bancorporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Houston, TX based Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. Cadence Bancorporation reported that its annual Total Revenue rose from $416.35 million in 2017 to $469.67 million in 2018 and that its Net Income increased from $102.35 million to $166.26 million in 2018.

Shares of Cadence Bancorporation (NYSE: CADE) grew from $20.49 per share in September 2017 to as high as $31.44 per share in June 2019.

On July 22, 2019, Cadence Bancorporation disclosed that higher credit costs including net charge-offs of $18.6 million and loan provisions of $28.9 million negatively impacted its second quarter 2019 financial results.

Shares of Cadence Bancorporation (NYSE: CADE) declined to as low as $15.55 per share on July 22, 2019.