Cadence Bancorp (CADE) Sets New 52-Week High at $27.53
Shares of Cadence Bancorp (NYSE:CADE) reached a new 52-week high on Thursday . The stock traded as high as $27.53 and last traded at $27.27, with a volume of 334700 shares trading hands. The stock had previously closed at $27.01.
CADE has been the topic of several research analyst reports. Zacks Investment Research raised 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 Wednesday, September 27th. BidaskClub raised Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Cadence Bancorp in a research note on Tuesday, October 3rd. SunTrust Banks reiterated a “hold” rating and issued a $25.00 target price on shares of Cadence Bancorp in a research report on Wednesday, October 4th. Finally, ValuEngine downgraded Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $25.75.
The company has a market capitalization of $2,290.00 and a price-to-earnings ratio of 19.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.01 and a quick ratio of 1.01.
In other Cadence Bancorp news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the firm’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 value of $31,350,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new position in shares of Cadence Bancorp during the second quarter valued at approximately $198,000. New York State Common Retirement Fund purchased a new position in shares of Cadence Bancorp during the second quarter valued at approximately $203,000. Rhumbline Advisers bought a new stake in Cadence Bancorp during the second quarter worth $207,000. Jane Street Group LLC bought a new stake in Cadence Bancorp during the third quarter worth $210,000. Finally, SG Americas Securities LLC bought a new stake in Cadence Bancorp during the third quarter worth $245,000. 8.96% of the stock is owned by hedge funds and other institutional investors.
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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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