Cadence Bancorp (NYSE:CADE) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a $32.00 price target on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 45.12% from the company’s previous close.
A number of other research analysts have also recently weighed in on the company. Zacks Investment Research cut Cadence Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 target price on shares of Cadence Bancorp in a report on Tuesday, October 23rd. Raymond James reduced their target price on Cadence Bancorp from $35.00 to $30.00 and set a “strong-buy” rating on the stock in a report on Tuesday, October 23rd. Stephens set a $34.00 target price on Cadence Bancorp and gave the company a “buy” rating in a report on Monday, October 22nd. Finally, ValuEngine cut Cadence Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Cadence Bancorp presently has a consensus rating of “Buy” and a consensus target price of $30.38.
Shares of Cadence Bancorp stock opened at $22.05 on Thursday. Cadence Bancorp has a twelve month low of $20.34 and a twelve month high of $31.44. The firm has a market capitalization of $1.81 billion, a P/E ratio of 14.90 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.03.
Cadence Bancorp (NYSE:CADE) last issued its earnings results on Monday, October 22nd. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.05. Cadence Bancorp had a return on equity of 12.41% and a net margin of 25.78%. The firm had revenue of $122.08 million for the quarter, compared to analysts’ expectations of $120.97 million. As a group, equities research analysts predict that Cadence Bancorp will post 2.1 EPS for the current year.
In other Cadence Bancorp news, Chairman Paul B. Murphy, Jr. sold 275,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $27.41, for a total transaction of $7,537,750.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William B. Harrison, Jr. acquired 23,000 shares of Cadence Bancorp stock in a transaction on Wednesday, October 24th. The shares were bought at an average price of $21.72 per share, for a total transaction of $499,560.00. Following the purchase, the director now owns 90,919 shares of the company’s stock, valued at $1,974,760.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 401,103 shares of company stock worth $10,994,233. 0.09% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of CADE. Neuburgh Advisers LLC lifted its stake in shares of Cadence Bancorp by 104.7% during the second quarter. Neuburgh Advisers LLC now owns 5,568 shares of the company’s stock worth $161,000 after purchasing an additional 2,848 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Cadence Bancorp during the second quarter worth about $165,000. Royal Bank of Canada lifted its stake in shares of Cadence Bancorp by 609.9% during the first quarter. Royal Bank of Canada now owns 6,389 shares of the company’s stock worth $174,000 after purchasing an additional 5,489 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Cadence Bancorp by 106.7% during the second quarter. Riverhead Capital Management LLC now owns 6,201 shares of the company’s stock worth $179,000 after purchasing an additional 3,201 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in shares of Cadence Bancorp during the second quarter worth about $211,000. Institutional investors own 73.49% of the company’s stock.
About Cadence Bancorp
Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.
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