SunTrust Banks, Inc. Reaffirms “Hold” Rating for Cadence Bancorp (CADE)

Cadence Bancorp (NYSE:CADE)‘s stock had its “hold” rating reissued by research analysts at SunTrust Banks, Inc. in a research note issued on Wednesday. They currently have a $25.00 price objective on the stock. SunTrust Banks, Inc.’s price target points to a potential upside of 8.98% from the stock’s current price.

A number of other research firms have also weighed in on CADE. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $25.00 price objective on shares of Cadence Bancorp in a research report on Tuesday. Zacks Investment Research cut Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub raised Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada began coverage on Cadence Bancorp in a report on Wednesday, September 6th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Stephens set a $25.00 price target on Cadence Bancorp and gave the stock a “buy” rating in a research note on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Cadence Bancorp presently has a consensus rating of “Buy” and a consensus price target of $25.25.

Cadence Bancorp (NYSE:CADE) traded down 2.44% during midday trading on Wednesday, reaching $22.38. 67,556 shares of the company were exchanged. Cadence Bancorp has a 52 week low of $20.00 and a 52 week high of $23.71. The firm has a market capitalization of $1.87 billion and a PE ratio of 19.05. The company has a 50-day moving average of $21.56 and a 200 day moving average of $22.08.

Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. The firm 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 and other institutional investors have recently modified their holdings of CADE. Lord Abbett & CO. LLC purchased a new stake in shares of Cadence Bancorp in the 2nd quarter worth $5,307,000. California State Teachers Retirement System bought a new stake in shares of Cadence Bancorp in the second quarter valued at about $337,000. State Street Corp bought a new stake in shares of Cadence Bancorp in the second quarter valued at about $1,781,000. Janus Henderson Group PLC bought a new stake in shares of Cadence Bancorp in the second quarter valued at about $21,066,000. Finally, Stifel Financial Corp bought a new stake in shares of Cadence Bancorp in the second quarter valued at about $2,196,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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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