Strs Ohio Has $61.22 Million Holdings in Cadence Bancorp (NYSE:CADE)
Strs Ohio cut its stake in shares of Cadence Bancorp (NYSE:CADE) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,376,997 shares of the company’s stock after selling 6,000 shares during the period. Strs Ohio owned approximately 2.64% of Cadence Bancorp worth $61,224,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CADE. Nuveen Asset Management LLC grew its stake in Cadence Bancorp by 7,941.2% in the second quarter. Nuveen Asset Management LLC now owns 1,496,946 shares of the company’s stock valued at $31,137,000 after acquiring an additional 1,478,330 shares during the period. Russell Investments Group Ltd. grew its stake in Cadence Bancorp by 639.3% in the third quarter. Russell Investments Group Ltd. now owns 1,576,651 shares of the company’s stock valued at $27,750,000 after acquiring an additional 1,363,381 shares during the period. Prudential PLC acquired a new position in Cadence Bancorp in the second quarter valued at about $13,589,000. Boston Partners grew its stake in Cadence Bancorp by 35.1% in the third quarter. Boston Partners now owns 2,055,027 shares of the company’s stock valued at $35,765,000 after acquiring an additional 533,558 shares during the period. Finally, State Street Corp grew its stake in Cadence Bancorp by 6.6% in the third quarter. State Street Corp now owns 5,282,157 shares of the company’s stock valued at $92,649,000 after acquiring an additional 328,146 shares during the period. 99.89% of the stock is owned by institutional investors and hedge funds.
CADE traded up $0.34 on Friday, hitting $16.68. 138,169 shares of the company were exchanged, compared to its average volume of 837,474. Cadence Bancorp has a 12 month low of $14.66 and a 12 month high of $23.22. The company has a market cap of $2.11 billion, a PE ratio of 10.81 and a beta of 1.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day moving average is $17.59 and its 200-day moving average is $16.97.
CADE has been the topic of a number of research reports. ValuEngine upgraded Cadence Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Stephens restated a “hold” rating and issued a $18.00 price target on shares of Cadence Bancorp in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered Cadence Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the company from $20.00 to $16.50 in a report on Thursday, October 24th. Raymond James lowered Cadence Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 8th. Finally, SunTrust Banks boosted their price target on Cadence Bancorp from $16.00 to $19.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Nine investment analysts have rated the stock with a hold rating, Cadence Bancorp currently has a consensus rating of “Hold” and an average target price of $18.25.
In other Cadence Bancorp news, Director Joseph W. Evans acquired 20,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $16.49 per share, for a total transaction of $329,800.00. Also, CEO Paul B. Murphy, Jr. acquired 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was acquired at an average price of $15.88 per share, for a total transaction of $158,800.00. Following the purchase, the chief executive officer now directly owns 508,320 shares of the company’s stock, valued at $8,072,121.60. The disclosure for this purchase can be found here. Insiders have purchased 37,387 shares of company stock worth $606,140 in the last quarter. 3.34% of the stock is currently owned by corporate insiders.
About Cadence Bancorp
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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