Cadence Bancorp (NYSE:CADE) Director J Thomas Wiley, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $8.14, for a total transaction of $407,000.00. Following the sale, the director now owns 302,560 shares of the company’s stock, valued at approximately $2,462,838.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

NYSE:CADE opened at $7.81 on Friday. The company has a market cap of $984.77 million, a price-to-earnings ratio of -2.73 and a beta of 2.01. The company has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $9.85. Cadence Bancorp has a 52 week low of $4.63 and a 52 week high of $18.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.18.

Cadence Bancorp (NYSE:CADE) last released its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.57). The firm had revenue of $184.66 million for the quarter, compared to analysts’ expectations of $188.02 million. Cadence Bancorp had a positive return on equity of 2.26% and a negative net margin of 38.95%. On average, analysts expect that Cadence Bancorp will post 0.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 31st will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, July 30th. This represents a $0.20 annualized dividend and a dividend yield of 2.56%. Cadence Bancorp’s dividend payout ratio (DPR) is currently 11.63%.

Institutional investors have recently added to or reduced their stakes in the company. Stieven Capital Advisors L.P. lifted its position in shares of Cadence Bancorp by 41.7% during the 1st quarter. Stieven Capital Advisors L.P. now owns 949,127 shares of the company’s stock worth $6,217,000 after purchasing an additional 279,227 shares during the last quarter. Jane Street Group LLC purchased a new stake in Cadence Bancorp in the fourth quarter valued at $224,000. Bank of New York Mellon Corp lifted its position in Cadence Bancorp by 19.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,075,021 shares of the company’s stock valued at $37,621,000 after acquiring an additional 334,005 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Cadence Bancorp in the second quarter valued at $8,926,000. Finally, HighTower Advisors LLC purchased a new stake in Cadence Bancorp in the first quarter valued at $303,000. 89.35% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on CADE shares. Raymond James upgraded shares of Cadence Bancorp from a “market perform” rating to a “strong-buy” rating and set a $12.00 price target for the company in a report on Wednesday, June 17th. Piper Sandler dropped their target price on shares of Cadence Bancorp from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Morgan Stanley lifted their target price on shares of Cadence Bancorp from $6.50 to $9.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Zacks Investment Research downgraded shares of Cadence Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $10.00 target price on shares of Cadence Bancorp in a report on Thursday, July 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $13.75.

Cadence Bancorp Company Profile

Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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