Janus Henderson Group PLC acquired a new stake in Cadence Bancorp (NYSE:CADE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 962,775 shares of the company’s stock, valued at approximately $21,066,000. Janus Henderson Group PLC owned 1.15% of Cadence Bancorp at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in Cadence Bancorp in the 2nd quarter valued at $198,000. New York State Common Retirement Fund bought a new position in Cadence Bancorp in the 2nd quarter valued at $203,000. Rhumbline Advisers bought a new position in Cadence Bancorp in the 2nd quarter valued at $207,000. Nationwide Fund Advisors bought a new position in shares of Cadence Bancorp during the 2nd quarter worth $305,000. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Cadence Bancorp during the 2nd quarter worth $368,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.
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Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Royal Bank Of Canada assumed coverage on Cadence Bancorp in a report on Wednesday, September 6th. They set an “outperform” rating and a $25.00 price objective on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.00 price objective on shares of Cadence Bancorp in a report on Thursday. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $25.00 price target on shares of Cadence Bancorp in a report on Wednesday, October 4th. Finally, BidaskClub cut Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $25.38.
Cadence Bancorp (NYSE CADE) traded up 3.15% during trading on Friday, reaching $24.23. The company had a trading volume of 188,901 shares. The firm’s 50 day moving average is $22.29 and its 200 day moving average is $22.15. Cadence Bancorp has a one year low of $20.00 and a one year high of $24.25. The company has a market capitalization of $2.03 billion and a PE ratio of 20.62.
Cadence Bancorp (NYSE:CADE) last issued its earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $105.37 million for the quarter, compared to analyst estimates of $103.21 million.
Cadence Bancorp 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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