BidaskClub Upgrades Cadence Bancorp (CADE) to “Buy”
BidaskClub upgraded shares of Cadence Bancorp (NYSE:CADE) from a hold rating to a buy rating in a report published on Saturday.
CADE has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Cadence Bancorp from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research note on Tuesday, July 11th. Stephens set a $25.00 target price on shares of Cadence Bancorp and gave the stock a buy rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a hold rating and issued a $25.00 target price on shares of Cadence Bancorp in a research report on Friday, July 14th. Finally, Royal Bank Of Canada started coverage on shares of Cadence Bancorp in a research note on Wednesday, September 6th. They issued an outperform rating and a $25.00 target price on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $25.25.
Shares of Cadence Bancorp (CADE) opened at 22.94 on Friday. The stock has a market capitalization of $1.92 billion and a P/E ratio of 19.52. Cadence Bancorp has a 12-month low of $20.00 and a 12-month high of $23.71. The stock has a 50 day moving average price of $21.56 and a 200 day moving average price of $22.08.
Cadence Bancorp (NYSE:CADE) last released its earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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.
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Several institutional investors have recently bought and sold shares of CADE. TimesSquare Capital Management LLC acquired a new position in shares of Cadence Bancorp in the 2nd quarter valued at about $22,211,000. Janus Henderson Group PLC bought a new stake in shares of Cadence Bancorp during the 2nd quarter valued at about $21,066,000. Voya Investment Management LLC bought a new stake in shares of Cadence Bancorp during the 2nd quarter valued at about $10,533,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Cadence Bancorp during the 2nd quarter valued at about $6,602,000. Finally, Grand Jean Capital Management Inc. bought a new stake in shares of Cadence Bancorp during the 2nd quarter valued at about $6,164,000. Institutional investors own 9.03% of the company’s stock.
Cadence Bancorp Company Profile
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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