Cadence Bancorp (CADE) Reaches New 52-Week High at $25.72
Cadence Bancorp (NYSE:CADE)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.72 and last traded at $24.99, with a volume of 772300 shares changing hands. The stock had previously closed at $24.79.
Several equities analysts have weighed in on CADE shares. SunTrust Banks reissued a “hold” rating and issued a $26.00 target price on shares of Cadence Bancorp in a research note on Wednesday, November 1st. BidaskClub raised Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Zacks Investment Research lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 target price on shares of Cadence Bancorp in a research note on Thursday, October 26th. Finally, Royal Bank of Canada started coverage on 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Cadence Bancorp has a consensus rating of “Buy” and an average target price of $25.75.
The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.01.
Several institutional investors have recently made changes to their positions in CADE. Russell Investments Group Ltd. bought a new stake in shares of Cadence Bancorp in the second quarter worth about $198,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Cadence Bancorp in the second quarter worth about $368,000. Rhumbline Advisers bought a new position in shares of Cadence Bancorp during the second quarter worth about $207,000. Bank of New York Mellon Corp bought a new position in shares of Cadence Bancorp during the second quarter worth about $531,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Cadence Bancorp during the second quarter worth about $2,548,000. Institutional investors own 8.96% of the company’s stock.
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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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