Cadence Bancorp’s (CADE) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.
A number of other analysts have also weighed in on CADE. Keefe, Bruyette & Woods reissued a hold rating and set a $25.00 price objective on shares of Cadence Bancorp in a research note on Tuesday. Zacks Investment Research lowered Cadence Bancorp from a buy rating to a hold rating in a research note on Monday. BidaskClub raised Cadence Bancorp from a hold rating to a buy rating in a research note on Saturday, September 30th. Royal Bank Of Canada started coverage on Cadence Bancorp in a research note on Wednesday, September 6th. They issued an outperform rating and a $25.00 price target for the company. Finally, Stephens set a $25.00 price target on Cadence Bancorp and gave the stock a buy rating in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Cadence Bancorp currently has an average rating of Buy and a consensus target price of $25.25.
Shares of Cadence Bancorp (NYSE CADE) traded up 0.63% on Wednesday, hitting $22.52. 85,713 shares of the stock were exchanged. The company has a market cap of $1.88 billion and a price-to-earnings ratio of 19.17. The company has a 50 day moving average of $21.58 and a 200 day moving average of $22.09. Cadence Bancorp has a 52-week low of $20.00 and a 52-week high of $23.71.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $105.37 million for the quarter, compared to analysts’ expectations of $103.21 million.
Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in Cadence Bancorp during the second quarter valued at $198,000. New York State Common Retirement Fund purchased a new position in Cadence Bancorp during the second quarter valued at $203,000. Rhumbline Advisers purchased a new position in Cadence Bancorp during the second quarter valued at $207,000. Nationwide Fund Advisors purchased a new position in Cadence Bancorp during the second quarter valued at $305,000. Finally, California State Teachers Retirement System purchased a new position in Cadence Bancorp during the second quarter valued at $337,000. 9.03% of the stock is owned by institutional investors.
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.
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