Cadence Bancorp (CADE) Earns “Hold” Rating from SunTrust Banks, Inc.
Cadence Bancorp (NYSE:CADE)‘s stock had its “hold” rating reissued by stock analysts at SunTrust Banks, Inc. in a note issued to investors on Wednesday. They currently have a $25.00 target price on the stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 11.71% from the company’s current price.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, September 27th. BidaskClub raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $25.00 price target on shares of Cadence Bancorp in a research note on Tuesday. Royal Bank Of Canada began coverage on Cadence Bancorp in a research report on Wednesday, September 6th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Stephens set a $25.00 price objective on Cadence Bancorp and gave the stock a “buy” rating in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.25.
Cadence Bancorp (NYSE CADE) traded down 2.44% on Wednesday, reaching $22.38. The company’s stock had a trading volume of 67,556 shares. The firm has a market capitalization of $1.87 billion and a P/E ratio of 19.05. Cadence Bancorp has a 52-week low of $20.00 and a 52-week high of $23.71. The firm has a 50-day moving average price of $21.56 and a 200 day moving average price of $22.08.
Cadence Bancorp (NYSE:CADE) last released its earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $105.37 million for the quarter, compared to analyst estimates of $103.21 million.
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Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Cadence Bancorp in the second quarter valued at approximately $198,000. New York State Common Retirement Fund acquired a new stake in shares of Cadence Bancorp during the second quarter worth $203,000. Rhumbline Advisers acquired a new stake in shares of Cadence Bancorp during the second quarter worth $207,000. Nationwide Fund Advisors acquired a new stake in shares of Cadence Bancorp during the second quarter worth $305,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Cadence Bancorp during the second quarter worth $337,000. 9.03% of the stock is owned by institutional investors and hedge funds.
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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