Cadence Bancorp (NYSE:CADE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
CADE has been the topic of several other reports. Stephens reissued a “buy” rating and issued a $32.00 target price on shares of Cadence Bancorp in a research report on Friday, January 26th. ValuEngine cut Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub cut Cadence Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 target price on shares of Cadence Bancorp in a research report on Thursday, October 26th. Finally, SunTrust Banks reissued a “hold” rating and issued a $28.00 target price on shares of Cadence Bancorp in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $27.38.
In other news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of Cadence Bancorp stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $22.00, for a total transaction of $31,350,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds have recently bought and sold shares of CADE. Schwab Charles Investment Management Inc. purchased a new position in shares of Cadence Bancorp during the 2nd quarter valued at about $368,000. Bank of New York Mellon Corp purchased a new position in shares of Cadence Bancorp during the 2nd quarter valued at about $531,000. Teachers Advisors LLC purchased a new position in shares of Cadence Bancorp during the 2nd quarter valued at about $516,000. TIAA CREF Investment Management LLC purchased a new position in shares of Cadence Bancorp during the 2nd quarter valued at about $523,000. Finally, Nationwide Fund Advisors purchased a new position in shares of Cadence Bancorp during the 2nd quarter valued at about $305,000. 10.80% of the stock is currently owned by hedge funds and other institutional investors.
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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