J Thomas Wiley, Jr. Sells 9,000 Shares of Cadence Bancorp (CADE) Stock
Cadence Bancorp (NYSE:CADE) Director J Thomas Wiley, Jr. sold 9,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $22.54, for a total value of $202,860.00. Following the completion of the sale, the director now owns 360,560 shares of the company’s stock, valued at $8,127,022.40. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Cadence Bancorp stock opened at $21.28 on Thursday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 10.28 and a beta of 1.64. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. Cadence Bancorp has a fifty-two week low of $16.13 and a fifty-two week high of $31.44.
Cadence Bancorp (NYSE:CADE) last issued its earnings results on Monday, April 29th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $185.47 million. Cadence Bancorp had a net margin of 25.71% and a return on equity of 15.11%. Cadence Bancorp’s quarterly revenue was up 72.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, sell-side analysts forecast that Cadence Bancorp will post 2.28 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new position in shares of Cadence Bancorp during the 1st quarter valued at about $33,000. Caz Investments LP bought a new position in shares of Cadence Bancorp during the 4th quarter valued at about $34,000. Truewealth LLC bought a new position in shares of Cadence Bancorp during the 1st quarter valued at about $35,000. Global Retirement Partners LLC boosted its holdings in shares of Cadence Bancorp by 36.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,882 shares of the company’s stock valued at $35,000 after purchasing an additional 505 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Cadence Bancorp by 205.4% during the 4th quarter. Bank of Montreal Can now owns 2,559 shares of the company’s stock valued at $43,000 after purchasing an additional 1,721 shares during the last quarter.
CADE has been the subject of several analyst reports. Stephens restated a “buy” rating and issued a $25.00 price objective on shares of Cadence Bancorp in a research note on Tuesday, January 29th. Goldman Sachs Group initiated coverage on Cadence Bancorp in a research note on Tuesday, March 5th. They issued a “buy” rating and a $23.00 price objective for the company. Raymond James upped their price objective on Cadence Bancorp from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, March 5th. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, March 13th. Finally, TheStreet upgraded Cadence Bancorp from a “d+” rating to a “c-” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.44.
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About Cadence Bancorp
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial 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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