Cadence Bank (NYSE:CADE) Short Interest Update

Cadence Bank (NYSE:CADE – Get Rating) was the recipient of a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 5,150,000 shares, an increase of 5.1% from the December 15th total of 4,900,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 4.3 days.

Cadence Bank Price Performance

NYSE:CADE traded down $0.16 during mid-day trading on Tuesday, reaching $25.01. 228,111 shares of the company were exchanged, compared to its average volume of 1,098,521. Cadence Bank has a 12 month low of $22.04 and a 12 month high of $33.23. The company has a fifty day moving average of $26.00 and a 200 day moving average of $26.18. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.72 billion, a PE ratio of 14.57 and a beta of 1.02.

Cadence Bank (NYSE:CADE – Get Rating) last issued its quarterly earnings data on Monday, October 24th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Cadence Bank had a net margin of 17.78% and a return on equity of 11.92%. The firm had revenue of $479.85 million for the quarter, compared to analyst estimates of $464.68 million. On average, research analysts anticipate that Cadence Bank will post 2.91 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, December 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.52%. Cadence Bank’s payout ratio is presently 51.16%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CADE. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Cadence Bank in the 3rd quarter valued at approximately $29,000. Private Trust Co. NA acquired a new stake in Cadence Bank during the 2nd quarter worth approximately $28,000. Exchange Traded Concepts LLC raised its holdings in Cadence Bank by 58.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,183 shares of the company’s stock worth $30,000 after buying an additional 437 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in Cadence Bank during the 3rd quarter worth approximately $50,000. Finally, Ronald Blue Trust Inc. raised its holdings in Cadence Bank by 215.2% during the 4th quarter. Ronald Blue Trust Inc. now owns 2,304 shares of the company’s stock worth $59,000 after buying an additional 1,573 shares during the period.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Janney Montgomery Scott cut shares of Cadence Bank from a “buy” rating to a “neutral” rating and upped their target price for the company from $29.00 to $30.00 in a research note on Thursday, November 17th. They noted that the move was a valuation call. Morgan Stanley initiated coverage on shares of Cadence Bank in a research note on Monday, December 5th. They set an “equal weight” rating and a $32.00 target price for the company. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.71.

Cadence Bank Company Profile

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Cadence Bank provides commercial banking and financial services in the United States. 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.