Strs Ohio Takes $88.17 Million Position in Cadence Bancorp (CADE)

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Strs Ohio bought a new position in shares of Cadence Bancorp (NYSE:CADE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,375,497 shares of the company’s stock, valued at approximately $88,167,000. Strs Ohio owned approximately 4.04% of Cadence Bancorp as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its position in shares of Cadence Bancorp by 48.4% during the 2nd quarter. Legal & General Group Plc now owns 7,525 shares of the company’s stock worth $217,000 after acquiring an additional 2,453 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Cadence Bancorp by 5.3% during the 1st quarter. California Public Employees Retirement System now owns 52,666 shares of the company’s stock worth $1,434,000 after acquiring an additional 2,666 shares in the last quarter. Neuburgh Advisers LLC raised its position in shares of Cadence Bancorp by 104.7% during the 2nd quarter. Neuburgh Advisers LLC now owns 5,568 shares of the company’s stock worth $161,000 after acquiring an additional 2,848 shares in the last quarter. Barclays PLC raised its position in shares of Cadence Bancorp by 15.5% during the 1st quarter. Barclays PLC now owns 21,520 shares of the company’s stock worth $586,000 after acquiring an additional 2,887 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its position in Cadence Bancorp by 106.7% during the second quarter. Riverhead Capital Management LLC now owns 6,201 shares of the company’s stock worth $179,000 after buying an additional 3,201 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

In other Cadence Bancorp news, insider Valerie Toalson sold 25,160 shares of Cadence Bancorp stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.41, for a total value of $689,635.60. Following the transaction, the insider now directly owns 11,608 shares in the company, valued at approximately $318,175.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Paul B. Murphy, Jr. sold 275,000 shares of Cadence Bancorp stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $27.41, for a total value of $7,537,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 401,103 shares of company stock worth $10,994,233. 0.09% of the stock is currently owned by corporate insiders.

Several research firms have commented on CADE. Zacks Investment Research raised Cadence Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Monday, October 8th. Morgan Stanley began coverage on Cadence Bancorp in a research report on Tuesday, September 25th. They set an “equal weight” rating and a $30.00 price target on the stock. ValuEngine lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Raymond James cut their price target on Cadence Bancorp from $36.00 to $35.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, July 24th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $30.71.

CADE traded down $0.93 during trading on Friday, hitting $21.95. 273,364 shares of the stock were exchanged, compared to its average volume of 1,387,030. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 15.00 and a beta of 0.53. Cadence Bancorp has a 1-year low of $21.81 and a 1-year high of $31.44. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.34.

Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Monday, July 23rd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $120.10 million for the quarter, compared to analyst estimates of $119.49 million. Cadence Bancorp had a return on equity of 11.24% and a net margin of 24.49%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities analysts expect that Cadence Bancorp will post 2.01 EPS for the current fiscal year.

About Cadence Bancorp

Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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Institutional Ownership by Quarter for Cadence Bancorp (NYSE:CADE)

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