Zacks Investment Research Lowers Cadence Bancorp (CADE) to Sell

Zacks Investment Research lowered shares of Cadence Bancorp (NYSE:CADE) from a hold rating to a sell rating in a research note released on Monday.

According to Zacks, “Cadence BanCorporation is a regional bank holding company. It provides corporations, middle-market companies, small businesses and consumers banking and financial solutions. The company’s services and products include commercial and business banking, treasury management, specialized lending, commercial real estate, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer banking, consumer loans, mortgages, home equity lines and loans and credit cards. Cadence BanCorporation is headquartered in Houston, Texas. “

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Other analysts have also issued research reports about the stock. Piper Jaffray began coverage on shares of Cadence Bancorp in a research report on Wednesday, March 28th. They set an overweight rating and a $32.00 price target on the stock. ValuEngine upgraded shares of Cadence Bancorp from a hold rating to a buy rating in a research report on Friday, February 2nd. SunTrust Banks reissued a hold rating and issued a $28.00 price objective on shares of Cadence Bancorp in a research note on Tuesday, January 9th. Finally, Stephens reissued a buy rating and issued a $32.00 price objective on shares of Cadence Bancorp in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Cadence Bancorp presently has a consensus rating of Buy and a consensus target price of $27.89.

NYSE CADE opened at $27.23 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The company has a market cap of $2,266.24 and a P/E ratio of 18.40. Cadence Bancorp has a 1 year low of $20.00 and a 1 year high of $29.30.

Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $113.57 million for the quarter, compared to analyst estimates of $110.42 million. Cadence Bancorp had a net margin of 20.60% and a return on equity of 9.50%. equities analysts expect that Cadence Bancorp will post 1.86 EPS for the current year.

The business also recently disclosed a special dividend, which was paid on Tuesday, March 20th. Investors of record on Thursday, March 1st were paid a $0.125 dividend. The ex-dividend date was Wednesday, February 28th. Cadence Bancorp’s payout ratio is 33.78%.

A number of large investors have recently modified their holdings of CADE. Meadow Creek Investment Management LLC bought a new position in Cadence Bancorp in the 4th quarter valued at approximately $157,000. Metropolitan Life Insurance Co. NY bought a new position in Cadence Bancorp in the 4th quarter valued at approximately $177,000. Jane Street Group LLC bought a new position in Cadence Bancorp in the 3rd quarter valued at approximately $210,000. SG Americas Securities LLC bought a new position in Cadence Bancorp in the 3rd quarter valued at approximately $245,000. Finally, Wells Fargo & Company MN lifted its stake in Cadence Bancorp by 1,026.2% in the 3rd quarter. Wells Fargo & Company MN now owns 11,307 shares of the company’s stock valued at $259,000 after purchasing an additional 10,303 shares during the last quarter. 23.69% of the stock is owned by institutional investors and hedge funds.

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About Cadence Bancorp

Cadence Bancorp is a bank holding company. The company is focused on providing range of banking and wealth management services to businesses, individuals, business owners and retail customers. It operates through three segments: Banking, Financial Services and Corporate. The Banking segment offers a range of deposit products and lending services through its commercial banking, retail banking and private banking business lines.

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