Zacks Investment Research upgraded shares of Cascade Bancorp (NASDAQ:CACB) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

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

Shares of Cascade Bancorp (NASDAQ:CACB) opened at 7.17 on Tuesday. The company has a market cap of $538.12 million, a price-to-earnings ratio of 31.59 and a beta of 0.58. The company’s 50-day moving average price is $6.48 and its 200 day moving average price is $5.95. Cascade Bancorp has a 12-month low of $5.01 and a 12-month high of $7.37.

Cascade Bancorp (NASDAQ:CACB) last posted its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ 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 prior year, the business earned $0.07 earnings per share. Equities analysts predict that Cascade Bancorp will post $0.23 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of CACB. Price T Rowe Associates Inc. MD increased its stake in shares of Cascade Bancorp by 5,124.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,091,090 shares of the financial services provider’s stock valued at $6,612,000 after buying an additional 1,070,204 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Cascade Bancorp by 1.5% in the third quarter. Panagora Asset Management Inc. now owns 298,146 shares of the financial services provider’s stock valued at $1,807,000 after buying an additional 4,545 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Cascade Bancorp by 0.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 50,699 shares of the financial services provider’s stock valued at $307,000 after buying an additional 134 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Cascade Bancorp during the third quarter valued at approximately $101,000. Finally, Context BH Capital Management LP purchased a new stake in shares of Cascade Bancorp during the third quarter valued at approximately $147,000. 80.87% of the stock is owned by hedge funds and other institutional investors.

Cascade Bancorp Company Profile

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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