Cadence Bank (NYSE:CADE) Short Interest Down 5.1% in January

Cadence Bank (NYSE:CADE) saw a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 5,240,000 shares, a decrease of 5.1% from the December 31st total of 5,520,000 shares. Based on an average trading volume of 1,210,000 shares, the short-interest ratio is presently 4.3 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CADE. GAMMA Investing LLC raised its position in Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after purchasing an additional 301 shares during the last quarter. KBC Group NV raised its position in Cadence Bank by 11.5% in the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares during the last quarter. Algert Global LLC raised its position in Cadence Bank by 2.8% in the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock valued at $603,000 after purchasing an additional 522 shares during the last quarter. HighTower Advisors LLC raised its position in Cadence Bank by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock valued at $1,406,000 after purchasing an additional 599 shares during the last quarter. Finally, Mather Group LLC. raised its position in Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Performance

Cadence Bank stock opened at $34.47 on Tuesday. The company’s 50 day simple moving average is $35.63 and its 200-day simple moving average is $33.76. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 12.42 and a beta of 0.99. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the previous year, the company earned $0.40 earnings per share. Equities analysts expect that Cadence Bank will post 2.92 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.275 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.19%. Cadence Bank’s dividend payout ratio is presently 36.10%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Finally, Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

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.