Short Interest in Cadence Bank (NYSE:CADE) Drops By 5.1%

Cadence Bank (NYSE:CADE) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 5,240,000 shares, a decline of 5.1% from the December 15th total of 5,520,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Investors Weigh In On Cadence Bank

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after buying an additional 301 shares during the period. KBC Group NV raised its stake in shares of Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Cadence Bank by 2.8% during the third quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after purchasing an additional 522 shares during the period. HighTower Advisors LLC grew its stake in shares of Cadence Bank by 1.4% in the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in Cadence Bank by 3.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,970 shares of the company’s stock valued at $722,000 after purchasing an additional 715 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Up 1.0 %

Shares of NYSE CADE opened at $35.65 on Tuesday. The stock has a market capitalization of $6.50 billion, a P/E ratio of 10.24 and a beta of 1.00. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The firm’s 50 day simple moving average is $36.21 and its two-hundred day simple moving average is $33.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

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

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.81%. Cadence Bank’s dividend payout ratio is currently 28.74%.

Analyst Ratings Changes

CADE has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Royal Bank of Canada upped their price target 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. Keefe, Bruyette & Woods lifted their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cadence Bank currently has a consensus rating of “Moderate Buy” and an average target price of $37.32.

Cadence Bank Company 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.