Cerebellum GP LLC Raises Stock Position in Cadence Bancorp (NYSE:CADE)

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Cerebellum GP LLC grew its holdings in Cadence Bancorp (NYSE:CADE) by 29.2% during the 4th quarter, Holdings Channel reports. The fund owned 31,498 shares of the company’s stock after buying an additional 7,120 shares during the period. Cerebellum GP LLC’s holdings in Cadence Bancorp were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hennessy Advisors Inc. raised its position in Cadence Bancorp by 48.6% in the fourth quarter. Hennessy Advisors Inc. now owns 275,000 shares of the company’s stock worth $4,986,000 after acquiring an additional 90,000 shares during the period. Metropolitan Life Insurance Co NY raised its position in Cadence Bancorp by 5.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 40,614 shares of the company’s stock worth $712,000 after acquiring an additional 2,082 shares during the period. Millennium Management LLC raised its position in Cadence Bancorp by 25.3% in the third quarter. Millennium Management LLC now owns 361,257 shares of the company’s stock worth $6,336,000 after acquiring an additional 72,969 shares during the period. Squarepoint Ops LLC raised its position in Cadence Bancorp by 14.5% in the third quarter. Squarepoint Ops LLC now owns 327,224 shares of the company’s stock worth $5,740,000 after acquiring an additional 41,547 shares during the period. Finally, Barclays PLC raised its position in Cadence Bancorp by 49.2% in the third quarter. Barclays PLC now owns 124,662 shares of the company’s stock worth $2,187,000 after acquiring an additional 41,093 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.

CADE has been the topic of several recent analyst reports. Stephens restated a “hold” rating and set a $18.00 price objective on shares of Cadence Bancorp in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of Cadence Bancorp from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $16.50 in a research report on Thursday, October 24th. Zacks Investment Research upgraded shares of Cadence Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. SunTrust Banks raised their price objective on shares of Cadence Bancorp from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. Finally, Piper Jaffray Companies downgraded shares of Cadence Bancorp from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $16.50 in a research report on Thursday, October 24th. 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 related news, Director Joseph W. Evans bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $16.49 per share, with a total value of $329,800.00. Also, CEO Paul B. Murphy, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were bought at an average cost of $15.88 per share, with a total value of $158,800.00. Following the completion of the purchase, the chief executive officer now directly owns 508,320 shares of the company’s stock, valued at approximately $8,072,121.60. The disclosure for this purchase can be found here. Insiders have purchased 37,387 shares of company stock valued at $606,140 over the last ninety days. 3.34% of the stock is currently owned by corporate insiders.

Shares of CADE stock opened at $17.51 on Thursday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 8.46 and a beta of 1.84. Cadence Bancorp has a one year low of $14.66 and a one year high of $23.22. The company’s fifty day moving average price is $17.35 and its 200-day moving average price is $17.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99.

Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.15). The firm had revenue of $194.83 million for the quarter, compared to the consensus estimate of $191.73 million. Cadence Bancorp had a net margin of 20.00% and a return on equity of 9.81%. During the same quarter in the previous year, the business earned $0.56 earnings per share. Equities research analysts expect that Cadence Bancorp will post 1.78 earnings per share for the current fiscal year.

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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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).

Institutional Ownership by Quarter for Cadence Bancorp (NYSE:CADE)

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