King Luther Capital Management Corp Acquires Shares of 210,340 Cadence Bancorp (CADE)
King Luther Capital Management Corp acquired a new position in shares of Cadence Bancorp (NYSE:CADE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 210,340 shares of the company’s stock, valued at approximately $4,602,000. King Luther Capital Management Corp owned approximately 0.25% of Cadence Bancorp as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in CADE. Russell Investments Group Ltd. purchased a new position in Cadence Bancorp during the second quarter worth approximately $198,000. Emerald Advisers Inc. PA purchased a new position in Cadence Bancorp during the second quarter worth approximately $1,458,000. Emerald Mutual Fund Advisers Trust purchased a new position in Cadence Bancorp during the second quarter worth approximately $6,602,000. Schwab Charles Investment Management Inc. purchased a new position in Cadence Bancorp during the second quarter worth approximately $368,000. Finally, Rhumbline Advisers purchased a new position in Cadence Bancorp during the second quarter worth approximately $207,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.
A number of brokerages recently commented on CADE. Zacks Investment Research downgraded Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Royal Bank Of Canada began coverage on Cadence Bancorp in a research report on Wednesday, September 6th. They set an “outperform” rating and a $25.00 price objective on the stock. Stephens set a $25.00 price objective on Cadence Bancorp and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $25.00 price objective on shares of Cadence Bancorp in a research report on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Cadence Bancorp currently has an average rating of “Buy” and a consensus target price of $25.00.
WARNING: This piece was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/09/16/king-luther-capital-management-corp-acquires-shares-of-210340-cadence-bancorp-cade.html.
Shares of Cadence Bancorp (NYSE CADE) opened at 21.37 on Friday. The stock has a market cap of $1.79 billion and a P/E ratio of 18.19. The firm has a 50-day moving average price of $21.49 and a 200-day moving average price of $22.05. Cadence Bancorp has a 52-week low of $20.00 and a 52-week high of $23.71.
Cadence Bancorp (NYSE:CADE) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $105.37 million for the quarter, compared to analysts’ expectations of $103.21 million.
About Cadence Bancorp
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.
Receive News & Stock Ratings for Cadence Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bancorp and related stocks with our FREE daily email newsletter.