Cadence Bancorp (NYSE:CADE) has received an average recommendation of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $27.38.
Several equities research analysts have commented on the stock. ValuEngine raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stephens reissued a “buy” rating and set a $32.00 target price on shares of Cadence Bancorp in a research note on Friday, January 26th. SunTrust Banks reissued a “hold” rating and set a $28.00 target price on shares of Cadence Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, January 8th. Finally, BidaskClub lowered shares of Cadence Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th.
In other news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $22.00, for a total transaction of $31,350,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio raised its position in shares of Cadence Bancorp by 8.0% during the 4th quarter. Strs Ohio now owns 29,600 shares of the company’s stock worth $802,000 after purchasing an additional 2,200 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Cadence Bancorp by 30.2% during the 4th quarter. Wells Fargo & Company MN now owns 14,717 shares of the company’s stock worth $399,000 after purchasing an additional 3,410 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Cadence Bancorp by 14.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 27,767 shares of the company’s stock worth $637,000 after purchasing an additional 3,476 shares during the last quarter. Rhumbline Advisers raised its position in shares of Cadence Bancorp by 57.5% during the 4th quarter. Rhumbline Advisers now owns 15,206 shares of the company’s stock worth $412,000 after purchasing an additional 5,549 shares during the last quarter. Finally, River Oaks Capital LLC raised its position in shares of Cadence Bancorp by 70.5% during the 4th quarter. River Oaks Capital LLC now owns 14,500 shares of the company’s stock worth $393,000 after purchasing an additional 5,998 shares during the last quarter. Hedge funds and other institutional investors own 10.80% of the company’s stock.
Shares of Cadence Bancorp (NYSE:CADE) opened at $27.11 on Friday. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $28.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $2,202.68 and a price-to-earnings ratio of 17.80.
The company also recently announced a special dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.125 per share. This represents a dividend yield of 0.00441540091840339%. The ex-dividend date of this dividend is Wednesday, February 28th.
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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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