Short Interest in Cadence Bank (NYSE:CADE) Decreases By 18.0%

Cadence Bank (NYSE:CADE) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 4,776,325 shares, a decrease of 18.0% from the January 15th total of 5,824,868 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily volume of 11,181,543 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 11,181,543 shares, the days-to-cover ratio is currently 0.4 days. Approximately 2.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms recently commented on CADE. Keefe, Bruyette & Woods downgraded Cadence Bank from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from $41.00 to $49.00 in a research note on Monday, November 3rd. Barclays cut shares of Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Stephens lowered shares of Cadence Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 28th. Piper Sandler set a $40.00 price objective on shares of Cadence Bank and gave the company a “neutral” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Cadence Bank presently has an average rating of “Hold” and an average price target of $42.88.

Cadence Bank Price Performance

Shares of CADE traded down $0.69 during mid-day trading on Monday, reaching $42.14. The company had a trading volume of 80,610,949 shares, compared to its average volume of 6,988,175. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 14.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50 day simple moving average is $43.38 and its 200 day simple moving average is $39.60. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $46.74.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.79 by $0.06. Cadence Bank had a net margin of 18.12% and a return on equity of 10.16%. The business had revenue of $528.41 million during the quarter, compared to the consensus estimate of $525.15 million. During the same quarter in the prior year, the firm earned $0.70 EPS. Analysts expect that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, January 30th will be issued a dividend of $0.3438 per share. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, January 30th. This represents a $1.38 annualized dividend and a dividend yield of 3.3%. Cadence Bank’s dividend payout ratio (DPR) is 39.01%.

Hedge Funds Weigh In On Cadence Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Cadence Bank in the second quarter valued at about $25,000. Mather Group LLC. acquired a new position in shares of Cadence Bank in the third quarter valued at approximately $26,000. Advisory Services Network LLC bought a new position in Cadence Bank in the 3rd quarter valued at approximately $32,000. Community Bank N.A. acquired a new stake in Cadence Bank during the 3rd quarter worth approximately $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Cadence Bank during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.