Cadence Bancorp (NYSE:CADE)‘s stock had its “hold” rating restated by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Thursday. They presently have a $26.00 price objective on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 10.69% from the stock’s current price.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, July 11th. Stephens set a $25.00 price target on Cadence Bancorp and gave the stock a “buy” rating in a report on Thursday, July 27th. Royal Bank Of Canada started coverage on Cadence Bancorp in a report on Wednesday, September 6th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, BidaskClub upgraded Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Cadence Bancorp presently has a consensus rating of “Buy” and an average target price of $25.38.
Cadence Bancorp (CADE) traded up 2.09% during trading on Thursday, reaching $23.49. The company’s stock had a trading volume of 234,886 shares. The stock’s 50 day moving average is $22.29 and its 200-day moving average is $22.15. Cadence Bancorp has a 52 week low of $20.00 and a 52 week high of $23.80. The firm has a market cap of $1.96 billion and a P/E ratio of 19.99.
Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $105.37 million during the quarter, compared to the consensus estimate of $103.21 million.
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Several large investors have recently bought and sold shares of the stock. TimesSquare Capital Management LLC bought a new position in shares of Cadence Bancorp during the second quarter worth about $22,211,000. Janus Henderson Group PLC bought a new position in shares of Cadence Bancorp during the second quarter worth about $21,066,000. Voya Investment Management LLC bought a new position in shares of Cadence Bancorp during the second quarter worth about $10,533,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Cadence Bancorp during the second quarter worth about $6,602,000. Finally, Grand Jean Capital Management Inc. bought a new position in shares of Cadence Bancorp during the second quarter worth about $6,164,000. Institutional investors and hedge funds own 9.03% of the company’s stock.
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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