Short Interest in Cadence Bank (NYSE:CADE) Declines By 21.8%

Cadence Bank (NYSE:CADE) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 6,213,156 shares, a drop of 21.8% from the December 15th total of 7,947,918 shares. Based on an average daily volume of 1,641,535 shares, the short-interest ratio is presently 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 volume of 1,641,535 shares, the short-interest ratio is presently 3.8 days.

Cadence Bank Stock Up 0.4%

Shares of NYSE:CADE traded up $0.17 during midday trading on Friday, reaching $44.57. 1,814,667 shares of the company traded hands, compared to its average volume of 2,083,489. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $46.02. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 16.15 and a beta of 0.95. The firm’s fifty day moving average price is $41.94 and its two-hundred day moving average price is $38.43.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, October 20th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. Cadence Bank had a return on equity of 9.97% and a net margin of 18.15%.The business had revenue of $517.24 million during the quarter, compared to the consensus estimate of $523.60 million. During the same quarter last year, the company earned $0.73 EPS. Analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The company 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. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.10 annualized dividend and a yield of 2.5%. Cadence Bank’s payout ratio is currently 39.86%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CADE. FNY Investment Advisers LLC purchased a new stake in shares of Cadence Bank in the second quarter worth $25,000. Mather Group LLC. bought a new position in Cadence Bank in the 3rd quarter worth about $26,000. Advisory Services Network LLC purchased a new stake in shares of Cadence Bank in the 3rd quarter valued at about $32,000. Community Bank N.A. bought a new stake in shares of Cadence Bank during the 3rd quarter valued at about $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Cadence Bank during the third quarter worth about $38,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Morgan Stanley cut Cadence Bank from an “overweight” rating to a “sell” rating in a research 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. Stephens cut Cadence Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods lowered shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and increased their target price for the stock from $41.00 to $49.00 in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.33.

About Cadence Bank

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.