Cadence Bancorp (CADE) Given Hold Rating at Keefe, Bruyette & Woods
Cadence Bancorp (NYSE:CADE)‘s stock had its “hold” rating reissued by Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday. They currently have a $25.00 target price on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.98% from the stock’s previous close.
Several other research firms have also recently commented on CADE. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, July 11th. Royal Bank Of Canada initiated coverage on Cadence Bancorp in a report on Wednesday, September 6th. They issued an “outperform” rating and a $25.00 price target on the stock. Stephens set a $25.00 price target on Cadence Bancorp and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, BidaskClub raised Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.25.
Shares of Cadence Bancorp (NYSE CADE) traded up 0.31% during mid-day trading on Tuesday, hitting $22.94. The company had a trading volume of 80,961 shares. Cadence Bancorp has a one year low of $20.00 and a one year high of $23.71. The company has a market capitalization of $1.92 billion and a PE ratio of 19.52. The company’s 50-day moving average is $21.56 and its 200 day moving average is $22.08.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $105.37 million during the quarter, compared to the consensus estimate of $103.21 million.
A number of large investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC purchased a new position in Cadence Bancorp in the second quarter worth $22,211,000. Janus Henderson Group PLC bought a new position in Cadence Bancorp in the second quarter valued at $21,066,000. Voya Investment Management LLC purchased a new stake in Cadence Bancorp during the second quarter valued at about $10,533,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Cadence Bancorp during the second quarter valued at about $6,602,000. Finally, Grand Jean Capital Management Inc. purchased a new stake in Cadence Bancorp during the second quarter valued at about $6,164,000. Institutional investors own 9.03% of the company’s stock.
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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