Cadence Bancorp (CADE) Receives Consensus Rating of “Buy” from Analysts
Cadence Bancorp (NYSE:CADE) has been assigned a consensus rating of “Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $27.38.
A number of analysts have issued reports on the company. ValuEngine raised Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stephens reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Cadence Bancorp in a research note on Friday, January 26th. BidaskClub downgraded Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.00 target price on shares of Cadence Bancorp in a research report on Thursday, October 26th. Finally, Zacks Investment Research raised Cadence Bancorp from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a research report on Friday, October 27th.
Cadence Bancorp (NYSE:CADE) traded up $1.05 during trading hours on Friday, reaching $26.34. The company’s stock had a trading volume of 4,288,061 shares, compared to its average volume of 267,695. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $28.77. The company has a market cap of $2,114.88 and a P/E ratio of 20.90.
In other news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $22.00, for a total transaction of $31,350,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Cadence Bancorp by 273.6% during the 4th quarter. BlackRock Inc. now owns 2,316,073 shares of the company’s stock valued at $62,812,000 after purchasing an additional 1,696,168 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Cadence Bancorp by 43.3% during the 3rd quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock valued at $31,619,000 after purchasing an additional 416,751 shares during the last quarter. Emerald Advisers Inc. PA increased its position in shares of Cadence Bancorp by 345.5% during the 4th quarter. Emerald Advisers Inc. PA now owns 694,839 shares of the company’s stock valued at $18,844,000 after purchasing an additional 538,854 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in Cadence Bancorp by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 351,883 shares of the company’s stock valued at $8,065,000 after acquiring an additional 50,143 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new position in Cadence Bancorp in the 4th quarter valued at $8,957,000. 9.01% of the stock is currently owned by hedge funds and other 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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