Short Interest in Cadence Bank (NYSE:CADE) Decreases By 20.9%

Cadence Bank (NYSE:CADE - Get Free Report) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 4,360,000 shares, a decline of 20.9% from the January 15th total of 5,510,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 3.6 days.

Analysts Set New Price Targets

Several research firms recently commented on CADE. Truist Financial boosted their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Barclays upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Finally, DA Davidson boosted their price target on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cadence Bank has an average rating of "Moderate Buy" and a consensus price target of $38.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in Cadence Bank by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company's stock valued at $1,284,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 valued at $64,000 after purchasing an additional 301 shares during the last quarter. Ironwood Investment Management LLC lifted its holdings in shares of Cadence Bank by 1.2% during the fourth quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company's stock valued at $1,039,000 after purchasing an additional 354 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Cadence Bank by 0.8% during the fourth quarter. Arizona State Retirement System now owns 53,034 shares of the company's stock valued at $1,827,000 after purchasing an additional 415 shares during the last quarter. Finally, KBC Group NV lifted its holdings 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 purchasing an additional 519 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Down 1.3 %

CADE stock traded down $0.44 during trading on Wednesday, reaching $34.04. 1,273,784 shares of the company's stock were exchanged, compared to its average volume of 1,165,481. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20. The firm has a market cap of $6.20 billion, a PE ratio of 12.29 and a beta of 0.99. The company's fifty day moving average price is $34.96 and its 200-day moving average price is $33.96.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, sell-side analysts expect that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.23%. This is a boost from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio (DPR) is currently 36.10%.

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.