$0.37 EPS Expected for Cadence Bancorp (CADE) This Quarter

Wall Street brokerages forecast that Cadence Bancorp (NYSE:CADE) will post earnings per share of $0.37 for the current quarter, Zacks reports. Four analysts have issued estimates for Cadence Bancorp’s earnings, with estimates ranging from $0.36 to $0.38. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, January 24th.

According to Zacks, analysts expect that Cadence Bancorp will report full year earnings of $1.44 per share for the current fiscal year, with EPS estimates ranging from $1.42 to $1.48. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.56 per share, with EPS estimates ranging from $1.53 to $1.58. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Cadence Bancorp.

A number of analysts have commented on the stock. Zacks Investment Research cut shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub cut shares of Cadence Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. SunTrust Banks reaffirmed a “hold” rating and set a $25.00 price target on shares of Cadence Bancorp in a research report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $25.00 price target on shares of Cadence Bancorp in a research report on Tuesday, October 3rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.75.

In other news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $22.00, for a total transaction of $31,350,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of Cadence Bancorp during the second quarter valued at about $531,000. TimesSquare Capital Management LLC acquired a new position in shares of Cadence Bancorp during the second quarter valued at about $22,211,000. California Public Employees Retirement System acquired a new stake in shares of Cadence Bancorp in the 2nd quarter worth about $1,094,000. Lord Abbett & CO. LLC acquired a new stake in shares of Cadence Bancorp in the 2nd quarter worth about $5,307,000. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Cadence Bancorp in the 3rd quarter worth about $1,063,000. Hedge funds and other institutional investors own 8.96% of the company’s stock.

Shares of Cadence Bancorp (NYSE:CADE) opened at $27.45 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42. The company has a market cap of $2,290.00 and a price-to-earnings ratio of 19.06. Cadence Bancorp has a 1 year low of $20.00 and a 1 year high of $27.75.

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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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