Cadence Bancorp (CADE) Shares Sold by TimesSquare Capital Management LLC
TimesSquare Capital Management LLC reduced its stake in Cadence Bancorp (NYSE:CADE) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 976,165 shares of the company’s stock after selling 38,985 shares during the period. TimesSquare Capital Management LLC owned 1.17% of Cadence Bancorp worth $22,374,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CADE. Janus Henderson Group PLC bought a new stake in Cadence Bancorp during the 2nd quarter worth approximately $21,066,000. Voya Investment Management LLC purchased a new stake in shares of Cadence Bancorp in the 2nd quarter valued at $10,533,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Cadence Bancorp during the 2nd quarter valued at $6,602,000. Grand Jean Capital Management Inc. purchased a new stake in Cadence Bancorp during the 2nd quarter valued at $6,164,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Cadence Bancorp during the 2nd quarter valued at $5,307,000. Hedge funds and other institutional investors own 9.32% of the company’s stock.
In related news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $22.00, for a total value of $31,350,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Cadence Bancorp (NYSE CADE) opened at $24.03 on Monday. Cadence Bancorp has a 1 year low of $20.00 and a 1 year high of $25.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.42.
CADE has been the subject of a number of analyst reports. BidaskClub upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Zacks Investment Research upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 price target on shares of Cadence Bancorp in a report on Thursday, October 26th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $25.00 price objective on shares of Cadence Bancorp in a report on Wednesday, October 4th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.75.
WARNING: “Cadence Bancorp (CADE) Shares Sold by TimesSquare Capital Management LLC” was first reported by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.watchlistnews.com/cadence-bancorp-cade-shares-sold-by-timessquare-capital-management-llc/1728762.html.
About Cadence Bancorp
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.
Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Bancorp (NYSE:CADE).
Receive News & Ratings for Cadence Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.