Cadence Bancorp (CADE) Downgraded by BidaskClub to Buy
BidaskClub downgraded shares of Cadence Bancorp (NYSE:CADE) from a strong-buy rating to a buy rating in a research report report published on Friday.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Cadence Bancorp from a buy rating to a hold rating in a research report on Monday, August 14th. Stephens set a $25.00 price objective on shares of Cadence Bancorp and gave the company a buy rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a hold rating and set a $25.00 price objective on shares of Cadence Bancorp in a research report on Friday, July 14th. Royal Bank of Canada assumed coverage on shares of Cadence Bancorp in a research report on Wednesday, September 6th. They set an outperform rating and a $25.00 price objective for the company. Finally, SunTrust Banks, Inc. reissued a hold rating and set a $25.00 price objective on shares of Cadence Bancorp in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $25.75.
Cadence Bancorp (CADE) traded down $0.09 during trading hours on Friday, reaching $22.05. 629,800 shares of the company’s stock were exchanged, compared to its average volume of 137,946. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.38. Cadence Bancorp has a fifty-two week low of $20.00 and a fifty-two week high of $25.49.
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Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Cadence Bancorp in the 2nd quarter worth $198,000. New York State Common Retirement Fund bought a new position in Cadence Bancorp in the 2nd quarter worth $203,000. Rhumbline Advisers bought a new position in Cadence Bancorp in the 2nd quarter worth $207,000. SG Americas Securities LLC bought a new position in Cadence Bancorp in the 3rd quarter worth $245,000. Finally, Wells Fargo & Company MN boosted its holdings in Cadence Bancorp by 1,026.2% in the 3rd quarter. Wells Fargo & Company MN now owns 11,307 shares of the company’s stock worth $259,000 after buying an additional 10,303 shares during the period. 9.29% of the stock is owned by hedge funds and other institutional investors.
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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