Cadence Bank (NYSE:CADE) Short Interest Down 7.5% in November

Cadence Bank (NYSE:CADE - Get Free Report) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 5,170,000 shares, a decline of 7.5% from the November 15th total of 5,590,000 shares. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Truist Financial lifted their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Finally, Barclays lifted their price target on Cadence Bank from $37.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Cadence Bank has an average rating of "Moderate Buy" and an average price target of $36.63.

Cadence Bank Stock Performance

NYSE:CADE traded up $0.23 during trading hours on Monday, reaching $36.63. The stock had a trading volume of 852,082 shares, compared to its average volume of 1,301,637. 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 50 day simple moving average of $35.69 and a 200 day simple moving average of $32.13. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20. The stock has a market cap of $6.67 billion, a P/E ratio of 10.46 and a beta of 0.98.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.09. The company had revenue of $447.36 million during the quarter, compared to analysts' expectations of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. On average, research analysts forecast that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, December 13th. Cadence Bank's dividend payout ratio (DPR) is presently 28.74%.

Hedge Funds Weigh In On Cadence Bank

Hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC grew its position in shares of Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company's stock valued at $2,050,000 after purchasing an additional 15,312 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Cadence Bank by 16.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company's stock worth $66,360,000 after buying an additional 291,885 shares in the last quarter. Natixis Advisors LLC grew its position in Cadence Bank by 8.0% during the second quarter. Natixis Advisors LLC now owns 419,375 shares of the company's stock worth $11,860,000 after buying an additional 30,945 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in Cadence Bank by 21.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company's stock worth $42,396,000 after buying an additional 237,748 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Cadence Bank by 224.3% during the third quarter. Intech Investment Management LLC now owns 56,452 shares of the company's stock worth $1,798,000 after buying an additional 39,044 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

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