Cadence Bancorp (CADE) Receives Consensus Recommendation of “Buy” from Brokerages

Cadence Bancorp (NYSE:CADE) has been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $25.29.

Several research firms have recently commented on CADE. Keefe, Bruyette & Woods reissued a “hold” rating and set a $25.00 price target on shares of Cadence Bancorp in a research note on Tuesday, October 3rd. SunTrust Banks, Inc. reissued a “hold” rating and set a $25.00 price target on shares of Cadence Bancorp in a research note on Wednesday, October 4th. BidaskClub raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Zacks Investment Research cut shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Stephens set a $25.00 price target on shares of Cadence Bancorp and gave the company a “buy” rating in a research note on Thursday, July 27th.

Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $105.37 million for the quarter, compared to the consensus estimate of $103.21 million.

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A number of hedge funds have recently made changes to their positions in CADE. Russell Investments Group Ltd. bought a new position in Cadence Bancorp in the second quarter valued at approximately $198,000. New York State Common Retirement Fund bought a new position in Cadence Bancorp in the second quarter valued at approximately $203,000. Rhumbline Advisers bought a new position in Cadence Bancorp in the second quarter valued at approximately $207,000. Nationwide Fund Advisors bought a new position in Cadence Bancorp in the second quarter valued at approximately $305,000. Finally, California State Teachers Retirement System bought a new position in Cadence Bancorp in the second quarter valued at approximately $337,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

About Cadence Bancorp

Cadence Bancorporation is a bank holding company. The Company is focused on middle-market commercial lending, complemented by retail banking and wealth management services, and provides a broad range of banking services to businesses, individuals and business owners. It operates through three segments: Banking, Financial Services and Corporate.

Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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