Cadence Bank (NYSE:CADE) Sees Large Increase in Short Interest

Cadence Bank (NYSE:CADE) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 5,580,000 shares, an increase of 8.1% from the September 30th total of 5,160,000 shares. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is presently 4.4 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CADE shares. Stephens reissued an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research note on Tuesday, July 23rd. Truist Financial upped their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Hovde Group upped their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their target price on shares of Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

Institutional Trading of Cadence Bank

A number of large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Cadence Bank in the third quarter valued at about $25,000. GAMMA Investing LLC increased its position in Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after purchasing an additional 436 shares during the period. Innealta Capital LLC purchased a new position in shares of Cadence Bank during the 2nd quarter worth approximately $138,000. Americana Partners LLC acquired a new stake in shares of Cadence Bank in the 3rd quarter valued at approximately $201,000. Finally, Davis Investment Partners LLC purchased a new stake in shares of Cadence Bank in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Trading Down 1.9 %

CADE opened at $33.43 on Friday. The business has a fifty day moving average price of $32.06 and a 200 day moving average price of $30.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 9.61 and a beta of 0.96. Cadence Bank has a 12 month low of $20.83 and a 12 month high of $34.85.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The company had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. Sell-side analysts expect that Cadence Bank will post 2.69 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 2.99%. Cadence Bank’s dividend payout ratio (DPR) is 28.74%.

Cadence Bank Company Profile

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.