Zacks Investment Research upgraded shares of Cadence Bancorp (NYSE:CADE) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Cadence BanCorporation is a regional bank holding company. It provides corporations, middle-market companies, small businesses and consumers banking and financial solutions. The company’s services and products include commercial and business banking, treasury management, specialized lending, commercial real estate, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer banking, consumer loans, mortgages, home equity lines and loans and credit cards. Cadence BanCorporation is headquartered in Houston, Texas. “
Several other brokerages also recently commented on CADE. ValuEngine raised Cadence Bancorp from a hold rating to a buy rating in a report on Friday, February 2nd. Piper Jaffray initiated coverage on Cadence Bancorp in a report on Wednesday, March 28th. They issued an overweight rating and a $32.00 target price on the stock. SunTrust Banks reissued a hold rating and issued a $28.00 target price on shares of Cadence Bancorp in a report on Tuesday, January 9th. Finally, Stephens reissued a buy rating and issued a $32.00 target price on shares of Cadence Bancorp in a report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $27.89.
NYSE CADE opened at $28.05 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 1.00. The company has a market cap of $2,303.87 and a price-to-earnings ratio of 18.95. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $29.30.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings data on Wednesday, January 24th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $113.57 million for the quarter, compared to the consensus estimate of $110.42 million. Cadence Bancorp had a return on equity of 9.50% and a net margin of 20.60%. sell-side analysts predict that Cadence Bancorp will post 1.87 EPS for the current year.
The firm also recently announced a special dividend, which was paid on Tuesday, March 20th. Stockholders of record on Thursday, March 1st were issued a $0.125 dividend. The ex-dividend date was Wednesday, February 28th. Cadence Bancorp’s payout ratio is currently 33.78%.
Hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in Cadence Bancorp by 158.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 82,733 shares of the company’s stock worth $2,244,000 after purchasing an additional 50,781 shares during the last quarter. Grand Jean Capital Management Inc. raised its position in Cadence Bancorp by 28.3% in the 4th quarter. Grand Jean Capital Management Inc. now owns 412,714 shares of the company’s stock worth $11,193,000 after purchasing an additional 91,032 shares during the last quarter. Two Sigma Investments LP bought a new position in Cadence Bancorp in the 4th quarter worth approximately $9,738,000. Janus Henderson Group PLC raised its position in Cadence Bancorp by 43.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock worth $31,619,000 after purchasing an additional 416,751 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in Cadence Bancorp in the 4th quarter worth approximately $5,334,000. Hedge funds and other institutional investors own 23.69% of the company’s stock.
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About Cadence Bancorp
Cadence Bancorp is a bank holding company. The company is focused on providing range of banking and wealth management services to businesses, individuals, business owners and retail customers. It operates through three segments: Banking, Financial Services and Corporate. The Banking segment offers a range of deposit products and lending services through its commercial banking, retail banking and private banking business lines.
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