Cadence Bank (NYSE:CADE) Short Interest Up 22.5% in December

Cadence Bank (NYSE:CADE) saw a large growth in short interest in December. As of December 15th, there was short interest totaling 7,947,918 shares, a growth of 22.5% from the November 30th total of 6,485,892 shares. Based on an average trading volume of 2,240,665 shares, the short-interest ratio is currently 3.5 days. Approximately 4.5% of the company’s stock are sold short. Approximately 4.5% of the company’s stock are sold short. Based on an average trading volume of 2,240,665 shares, the short-interest ratio is currently 3.5 days.

Cadence Bank Stock Performance

NYSE CADE traded down $0.31 during trading on Wednesday, reaching $42.83. The company’s stock had a trading volume of 971,251 shares, compared to its average volume of 1,883,570. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 15.52 and a beta of 0.97. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $44.26. The business’s fifty day moving average price is $40.28 and its 200-day moving average price is $37.33.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $523.60 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, sell-side analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, December 15th. Cadence Bank’s payout ratio is 39.86%.

Institutional Trading of Cadence Bank

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Royal Bank Of Canada upgraded Cadence Bank from a “hold” rating to a “moderate buy” rating in a report 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. Keefe, Bruyette & Woods lowered shares of Cadence Bank from a “moderate buy” rating to a “hold” rating and increased their price target for the company from $41.00 to $49.00 in a research note on Monday, November 3rd. Finally, Barclays downgraded shares of Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Cadence Bank currently has a consensus 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.