Citadel Advisors LLC Takes Position in Cadence Bancorp (CADE)
Citadel Advisors LLC purchased a new position in Cadence Bancorp (NYSE:CADE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 56,844 shares of the company’s stock, valued at approximately $1,244,000. Citadel Advisors LLC owned about 0.07% of Cadence Bancorp at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of CADE. Russell Investments Group Ltd. purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth about $198,000. Emerald Advisers Inc. PA bought a new position in Cadence Bancorp in the 2nd quarter worth about $1,458,000. Emerald Mutual Fund Advisers Trust bought a new position in Cadence Bancorp in the 2nd quarter worth about $6,602,000. Schwab Charles Investment Management Inc. purchased a new stake in Cadence Bancorp during the 2nd quarter valued at about $368,000. Finally, Rhumbline Advisers purchased a new stake in Cadence Bancorp during the 2nd quarter valued at about $207,000. 9.03% of the stock is owned by hedge funds and other institutional investors.
Cadence Bancorp (NYSE:CADE) opened at 22.94 on Wednesday. Cadence Bancorp has a 52-week low of $20.00 and a 52-week high of $23.71. The firm has a 50-day moving average of $21.56 and a 200 day moving average of $22.08. The company has a market capitalization of $1.92 billion and a P/E ratio of 19.52.
Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $105.37 million for the quarter, compared to analyst estimates of $103.21 million.
A number of equities research analysts have recently commented on CADE shares. Zacks Investment Research upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, August 15th. BidaskClub raised Cadence Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $25.00 target price on shares of Cadence Bancorp in a research note on Friday, July 14th. Stephens set a $25.00 target price on Cadence Bancorp and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada assumed coverage on Cadence Bancorp in a report on Wednesday, September 6th. They issued an “outperform” rating and a $25.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.25.
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.
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