Cadence Bancorp (NYSE:CADE) has received a consensus rating of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.50.
Several research analysts have weighed in on CADE shares. ValuEngine lowered shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. BidaskClub raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 target price on shares of Cadence Bancorp in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, September 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 target price on shares of Cadence Bancorp in a research note on Thursday, October 26th.
Shares of Cadence Bancorp (NYSE:CADE) traded up $0.66 during mid-day trading on Tuesday, reaching $28.73. 195,506 shares of the company’s stock traded hands, compared to its average volume of 286,623. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.42. Cadence Bancorp has a one year low of $20.00 and a one year high of $28.77.
In other news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $22.00, for a total transaction of $31,350,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Cadence Bancorp in the second quarter valued at approximately $531,000. California Public Employees Retirement System acquired a new stake in Cadence Bancorp in the second quarter valued at approximately $1,094,000. Mutual of America Capital Management LLC acquired a new stake in Cadence Bancorp in the third quarter valued at approximately $1,063,000. Lord Abbett & CO. LLC acquired a new stake in Cadence Bancorp in the second quarter valued at approximately $5,307,000. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in Cadence Bancorp by 16.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 351,883 shares of the company’s stock valued at $8,065,000 after acquiring an additional 50,143 shares in the last quarter. 8.96% of the stock is currently owned by institutional investors and hedge funds.
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Cadence Bancorp Company Profile
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.
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