Cadence Bank (NYSE:CADE) Short Interest Update

Cadence Bank (NYSE:CADE) saw a significant decline in short interest in 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 trading volume of 1,280,000 shares, the short-interest ratio is currently 4.0 days.

Cadence Bank Stock Performance

NYSE CADE opened at $35.71 on Wednesday. The firm’s 50 day simple moving average is $35.90 and its 200 day simple moving average is $32.24. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 10.26 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 has a 1 year low of $24.99 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last issued 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. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The firm had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same quarter last year, the business posted $0.56 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.80%. Cadence Bank’s payout ratio is currently 28.74%.

Institutional Investors Weigh In On Cadence Bank

Several hedge funds and other institutional investors have recently made changes to their positions in CADE. Geode Capital Management LLC boosted its position in Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after buying an additional 39,679 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Cadence Bank by 31.2% in the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after acquiring an additional 15,312 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Cadence Bank by 16.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after acquiring an additional 291,885 shares in the last quarter. Natixis Advisors LLC grew its position in Cadence Bank by 8.0% during the 2nd quarter. Natixis Advisors LLC now owns 419,375 shares of the company’s stock worth $11,860,000 after acquiring an additional 30,945 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Cadence Bank by 21.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock worth $42,396,000 after purchasing an additional 237,748 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CADE shares. DA Davidson upped their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Truist Financial boosted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.63.

About Cadence Bank

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.