Insider Buying: Cascade Bancorp EVP Buys 10,000 Shares of Stock (CACB)
Cascade Bancorp (NASDAQ:CACB) EVP Charles N. Reeves bought 10,000 shares of the stock on the open market in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the executive vice president now directly owns 36,310 shares of the company’s stock, valued at approximately $170,657. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Cascade Bancorp (NASDAQ:CACB) traded down 0.84% on Friday, hitting $4.75. 105,501 shares of the company’s stock traded hands. Cascade Bancorp has a 1-year low of $4.11 and a 1-year high of $6.95. The stock’s 50-day moving average is $4.58 and its 200-day moving average is $4.95. The company has a market cap of $224.6 million and a price-to-earnings ratio of 4.52. Cascade Bancorp also was the recipient of a large decline in short interest during the month of May. As of May 30th, there was short interest totalling 825,069 shares, a decline of 47.0% from the May 15th total of 1,557,164 shares. Based on an average daily trading volume, of 179,283 shares, the days-to-cover ratio is currently 4.6 days. Currently, 2.7% of the company’s stock are sold short.
Cascade Bancorp (NASDAQ:CACB) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.01. Analysts expect that Cascade Bancorp will post $0.11 EPS for the current fiscal year.
Cascade Bancorp (NASDAQ:CACB) is a bank holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.