Cascade Bancorp (NASDAQ:CACB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Cascade Bancorp is a financial holding company. “

Shares of Cascade Bancorp (NASDAQ:CACB) traded up 1.59% on Friday, reaching $7.05. The company’s stock had a trading volume of 3,584,287 shares. The firm has a market capitalization of $521.71 million, a PE ratio of 31.06 and a beta of 0.58. Cascade Bancorp has a one year low of $5.01 and a one year high of $7.25. The firm has a 50-day moving average price of $6.28 and a 200 day moving average price of $5.90.

Cascade Bancorp (NASDAQ:CACB) last issued its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.01. Cascade Bancorp had a return on equity of 4.73% and a net margin of 14.04%. During the same period in the previous year, the company earned $0.07 earnings per share. On average, analysts anticipate that Cascade Bancorp will post $0.23 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC increased its stake in shares of Cascade Bancorp by 484.7% in the second quarter. O Shaughnessy Asset Management LLC now owns 17,963 shares of the financial services provider’s stock valued at $100,000 after buying an additional 14,891 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Cascade Bancorp during the third quarter valued at $101,000. Boothbay Fund Management LLC acquired a new stake in shares of Cascade Bancorp during the first quarter valued at $105,000. First Trust Advisors LP increased its stake in shares of Cascade Bancorp by 10.3% in the third quarter. First Trust Advisors LP now owns 17,406 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,624 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of Cascade Bancorp by 0.9% in the second quarter. BlackRock Advisors LLC now owns 22,933 shares of the financial services provider’s stock valued at $127,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

About Cascade Bancorp

Cascade Bancorp is a bank holding company. The Company and its subsidiary, Bank of the Cascades (the Bank), operate in Central, Southern and Northwest Oregon, as well as in the greater Boise/Treasury Valley, Idaho and Seattle Metro areas. The Bank offers a range of commercial and retail banking services to its customers through a network of approximately 40 branches serving communities in Central, Southern and Northwest Oregon, as well as in the greater Boise/Treasure Valley, Idaho and Seattle, Washington areas.

5 Day Chart for NASDAQ:CACB

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