Cadence Bank (NYSE:CADE) Short Interest Down 5.1% in December

Cadence Bank (NYSE:CADE) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 5,240,000 shares, a drop 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 currently 4.3 days.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. DA Davidson boosted their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial increased their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.32.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CADE. GAMMA Investing LLC grew its stake in shares of Cadence Bank by 19.3% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after purchasing an additional 301 shares during the period. KBC Group NV boosted its holdings in Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after buying an additional 519 shares during the last quarter. Algert Global LLC grew its position in shares of Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after buying an additional 522 shares during the period. HighTower Advisors LLC increased its stake in shares of Cadence Bank by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after acquiring an additional 599 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in shares of Cadence Bank by 3.5% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,970 shares of the company’s stock valued at $722,000 after acquiring an additional 715 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Up 1.0 %

NYSE CADE opened at $35.65 on Friday. 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 52 week low of $24.99 and a 52 week high of $40.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average of $36.29 and a 200-day moving average of $33.30.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same period in the prior year, the company posted $0.56 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, December 13th. Cadence Bank’s dividend payout ratio is presently 28.74%.

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.