Cadence Bank’s filing revealed that its Officer Braddock Edward H. acquired Company’s shares for reported $79682.0 on Sep 03 ’24. In the deal valued at $32.27 per share,2,469 shares were bought.
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Then, Christopher A Bagley bought 14,601 shares, generating $487,511 in total proceeds.
Before that, Toalson Valerie C. bought 181,662 shares. Cadence Bank shares valued at $6,122,009 were divested by the Officer at a price of $33.70 per share.
Morgan Stanley upgraded its Cadence Bank [CADE] rating to an Overweight from a an Equal-weight in a research note published on September 30, 2024; the price target was increased to $39 from $36. A number of analysts have revised their coverage, including Hovde Group’s analysts, who remained covering the stock and in late July has reiterated a ‘”an Outperform”‘ rating for it. Piper Sandler also remained covering CADE and has decreased its forecast on July 24, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Hovde Group revised its rating on April 24, 2024. It rated CADE as “an Outperform” which previously was an “a Market perform”.
Price Performance Review of CADE
On Tuesday, Cadence Bank [NYSE:CADE] saw its stock jump 4.74% to $34.00. Over the last five days, the stock has gained 3.44%. Cadence Bank shares have risen nearly 14.90% since the year began. Nevertheless, the stocks have risen 70.85% over the past one year. While a 52-week high of $34.12 was reached on 10/22/24, a 52-week low of $19.67 was recorded on 02/07/24. SMA at 50 days reached $31.56, while 200 days put it at $29.24.
Levels Of Support And Resistance For CADE Stock
The 24-hour chart illustrates a support level at 32.77, which if violated will result in even more drops to 31.55. On the upside, there is a resistance level at 34.70. A further resistance level may holdings at 35.41. The Relative Strength Index (RSI) on the 14-day chart is 64.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.95, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 4.53%. Stochastics %K at 77.73% indicates the stock is a holding.
How much short interest is there in Cadence Bank?
A steep rise in short interest was recorded in Cadence Bank stocks on 2024-09-30, dropping by -0.25 million shares to a total of 5.16 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 5.4 million shares. There was a decline of -4.79%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on March 08, 2024 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $28 price target.
