BidaskClub downgraded shares of Cadence Bancorp (NYSE:CADE) from a strong-buy rating to a buy rating in a report issued on Friday, November 10th.
Several other brokerages have also issued reports on CADE. Keefe, Bruyette & Woods reiterated a hold rating and issued a $25.00 target price on shares of Cadence Bancorp in a research report on Friday, July 14th. Stephens set a $25.00 price objective on shares of Cadence Bancorp and gave the stock a buy rating in a report on Thursday, July 27th. Zacks Investment Research cut shares of Cadence Bancorp from a buy rating to a hold rating in a report on Monday, August 14th. Royal Bank Of Canada initiated coverage on shares of Cadence Bancorp in a report on Wednesday, September 6th. They set an outperform rating and a $25.00 price target on the stock. Finally, SunTrust Banks, Inc. restated a hold rating and issued a $25.00 target price on shares of Cadence Bancorp in a report on Wednesday, October 4th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $25.75.
Shares of Cadence Bancorp (NYSE CADE) opened at $23.94 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.01. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $25.49.
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In other Cadence Bancorp news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of Cadence Bancorp stock in a transaction on Friday, November 17th. The shares were sold at an average price of $22.00, for a total value of $31,350,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its stake in shares of Cadence Bancorp by 43.3% during the 3rd quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock worth $31,619,000 after purchasing an additional 416,751 shares during the period. TimesSquare Capital Management LLC bought a new stake in Cadence Bancorp during the 2nd quarter valued at about $22,211,000. Voya Investment Management LLC bought a new stake in Cadence Bancorp during the 2nd quarter valued at about $10,533,000. Emerald Mutual Fund Advisers Trust lifted its holdings in Cadence Bancorp by 16.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 351,883 shares of the company’s stock valued at $8,065,000 after buying an additional 50,143 shares in the last quarter. Finally, Grand Jean Capital Management Inc. bought a new stake in Cadence Bancorp during the 2nd quarter valued at about $6,164,000. 9.32% of the stock is owned by hedge funds and other institutional investors.
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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