Equities research analysts at Morgan Stanley began coverage on shares of Cadence Bancorp (NYSE:CADE) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $30.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 14.94% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. ValuEngine cut shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research cut shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Raymond James decreased their target price on shares of Cadence Bancorp from $36.00 to $35.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Cadence Bancorp has an average rating of “Hold” and an average target price of $31.29.

NYSE CADE opened at $26.10 on Tuesday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 17.64 and a beta of 0.44. Cadence Bancorp has a fifty-two week low of $21.81 and a fifty-two week high of $31.44. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34.

Cadence Bancorp (NYSE:CADE) last posted its earnings results on Monday, July 23rd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $120.10 million for the quarter, compared to analysts’ expectations of $119.49 million. Cadence Bancorp had a net margin of 24.49% and a return on equity of 11.24%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. sell-side analysts predict that Cadence Bancorp will post 2 earnings per share for the current year.

In other news, Chairman Paul B. Murphy, Jr. sold 275,000 shares of Cadence Bancorp stock in a transaction on Friday, September 14th. The shares were sold at an average price of $27.41, for a total transaction of $7,537,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Valerie Toalson sold 25,160 shares of Cadence Bancorp stock in a transaction on Friday, September 14th. The stock was sold at an average price of $27.41, for a total transaction of $689,635.60. Following the transaction, the insider now owns 11,608 shares in the company, valued at approximately $318,175.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 401,103 shares of company stock worth $10,994,233. 0.09% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of CADE. Legal & General Group Plc lifted its holdings in Cadence Bancorp by 48.4% in the second quarter. Legal & General Group Plc now owns 7,525 shares of the company’s stock valued at $217,000 after buying an additional 2,453 shares during the period. California Public Employees Retirement System lifted its holdings in Cadence Bancorp by 5.3% in the first quarter. California Public Employees Retirement System now owns 52,666 shares of the company’s stock valued at $1,434,000 after buying an additional 2,666 shares during the period. Neuburgh Advisers LLC lifted its holdings in Cadence Bancorp by 104.7% in the second quarter. Neuburgh Advisers LLC now owns 5,568 shares of the company’s stock valued at $161,000 after buying an additional 2,848 shares during the period. Barclays PLC lifted its holdings in Cadence Bancorp by 15.5% in the first quarter. Barclays PLC now owns 21,520 shares of the company’s stock valued at $586,000 after buying an additional 2,887 shares during the period. Finally, Riverhead Capital Management LLC lifted its holdings in Cadence Bancorp by 106.7% in the second quarter. Riverhead Capital Management LLC now owns 6,201 shares of the company’s stock valued at $179,000 after buying an additional 3,201 shares during the period. Institutional investors own 67.69% of the company’s stock.

About Cadence Bancorp

Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to 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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Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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