Cadence Bancorp (NYSE:CADE) Upgraded to Buy by Zacks Investment Research
Cadence Bancorp (NYSE:CADE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $25.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 11.61% from the stock’s previous close.
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. “
A number of other research analysts have also issued reports on the company. Keefe, Bruyette & Woods assumed coverage on Cadence Bancorp in a report on Wednesday, May 31st. They issued a “market perform” rating and a $25.00 target price for the company. SunTrust Banks, Inc. assumed coverage on Cadence Bancorp in a report on Monday, May 15th. They issued a “hold” rating and a $25.00 target price for the company. Raymond James Financial, Inc. assumed coverage on Cadence Bancorp in a report on Monday, May 15th. They issued an “outperform” rating for the company. J P Morgan Chase & Co assumed coverage on Cadence Bancorp in a report on Monday, May 15th. They issued an “overweight” rating and a $26.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on Cadence Bancorp in a report on Monday, May 15th. They issued a “neutral” rating and a $24.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.29.
Cadence Bancorp (NYSE:CADE) traded up 0.31% on Tuesday, hitting $22.40. The stock had a trading volume of 54,765 shares. Cadence Bancorp has a 52-week low of $20.50 and a 52-week high of $23.71. The company has a market cap of $1.87 billion and a P/E ratio of 21.96. The firm’s 50-day moving average is $22.29 and its 200-day moving average is $22.34.
Cadence Bancorp (NYSE:CADE) last released its earnings results on Monday, May 8th. The company reported $0.35 earnings per share (EPS) for the quarter. The firm had revenue of $98.86 million during the quarter. Cadence Bancorp had a return on equity of 9.58% and a net margin of 26.42%.
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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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