Cadence Bank (NYSE:CADE) Short Interest Update

Cadence Bank (NYSE:CADE - Get Free Report) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 5,520,000 shares, a growth of 6.8% from the November 30th total of 5,170,000 shares. Based on an average daily volume of 1,230,000 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Cadence Bank during the third quarter valued at approximately $25,000. Point72 Hong Kong Ltd bought a new position in shares of Cadence Bank during the 3rd quarter worth $32,000. GAMMA Investing LLC increased its stake in shares of Cadence Bank by 55.8% during the third quarter. GAMMA Investing LLC now owns 1,561 shares of the company's stock valued at $50,000 after buying an additional 559 shares during the period. TD Private Client Wealth LLC lifted its stake in Cadence Bank by 23.0% in the third quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company's stock worth $158,000 after acquiring an additional 926 shares during the period. Finally, KBC Group NV raised its holdings in shares of Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company's stock valued at $160,000 after purchasing an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

CADE has been the subject of a number of recent research reports. Morgan Stanley upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Keefe, Bruyette & Woods upped their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Truist Financial lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Barclays raised Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Finally, DA Davidson upped their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Three equities research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.32.

Cadence Bank Price Performance

Shares of NYSE:CADE traded down $0.75 during mid-day trading on Thursday, reaching $33.70. The stock had a trading volume of 876,331 shares, compared to its average volume of 1,296,465. The business's 50 day moving average price is $36.27 and its 200 day moving average price is $32.71. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The company has a market cap of $6.14 billion, a P/E ratio of 9.68 and a beta of 0.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.09. The firm had revenue of $447.36 million during 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%. Cadence Bank's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Research analysts expect that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's payout ratio is 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.