Cadence Bank (NYSE:CADE) Short Interest Down 21.8% in December

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 totaling 6,213,156 shares, a decline of 21.8% from the December 15th total of 7,947,918 shares. Based on an average daily trading volume, of 1,641,535 shares, the short-interest ratio is currently 3.8 days. Currently, 3.5% of the shares of the company are sold short. Currently, 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,641,535 shares, the short-interest ratio is currently 3.8 days.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler set a $40.00 target price on shares of Cadence Bank and gave the stock a “neutral” rating in a report on Monday, October 27th. Morgan Stanley downgraded Cadence Bank from an “overweight” rating to a “sell” rating in a report on Tuesday, October 28th. Royal Bank Of Canada upgraded Cadence Bank from a “hold” rating to a “moderate buy” rating in a research note on Monday, October 27th. Barclays lowered Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Stephens downgraded shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.33.

Cadence Bank Stock Performance

Shares of NYSE CADE remained flat at $44.50 during midday trading on Tuesday. 2,624,607 shares of the company were exchanged, compared to its average volume of 2,888,601. The firm has a market capitalization of $8.11 billion, a P/E ratio of 16.12 and a beta of 0.95. The stock’s 50 day moving average is $42.06 and its 200-day moving average is $38.53. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $46.02.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, October 20th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 9.97%. The firm had revenue of $517.24 million for the quarter, compared to analysts’ expectations of $523.60 million. During the same quarter last year, the company earned $0.73 EPS. As a group, equities analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, December 15th. Cadence Bank’s dividend payout ratio (DPR) is currently 39.86%.

Hedge Funds Weigh In On Cadence Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of Cadence Bank in the 2nd quarter worth $25,000. Mather Group LLC. acquired a new position in Cadence Bank during the third quarter worth about $26,000. Advisory Services Network LLC bought a new stake in Cadence Bank in the third quarter worth about $32,000. Community Bank N.A. acquired a new stake in Cadence Bank in the 3rd quarter valued at about $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Cadence Bank in the 3rd quarter valued at about $38,000. 84.61% of the stock is owned by institutional investors.

Cadence Bank Company Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.