BidaskClub cut shares of Cadence Bancorp (NYSE:CADE) from a strong-buy rating to a buy rating in a research report report published on Friday, November 10th.
A number of other equities analysts have also commented on the stock. Keefe, Bruyette & Woods reiterated a hold rating and issued a $25.00 price objective on shares of Cadence Bancorp in a report on Friday, July 14th. SunTrust Banks reiterated a hold rating and issued a $26.00 price objective on shares of Cadence Bancorp in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of Cadence Bancorp from a buy rating to a hold rating in a research note on Tuesday, August 22nd. Stephens set a $25.00 target price on shares of Cadence Bancorp and gave the company a buy rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada initiated coverage on shares of Cadence Bancorp in a research note on Wednesday, September 6th. They issued an outperform rating and a $25.00 target price on the stock. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of Buy and an average target price of $25.75.
Cadence Bancorp (NYSE:CADE) traded up $0.46 during trading hours on Friday, hitting $24.87. 692,500 shares of the company traded hands, compared to its average volume of 170,347. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $25.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Cadence Bancorp by 14.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,767 shares of the company’s stock worth $637,000 after purchasing an additional 3,476 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Cadence Bancorp in the 2nd quarter worth about $198,000. Jane Street Group LLC bought a new position in Cadence Bancorp in the 3rd quarter worth about $210,000. New York State Common Retirement Fund bought a new position in Cadence Bancorp in the 2nd quarter worth about $203,000. Finally, Rhumbline Advisers bought a new position in shares of Cadence Bancorp in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 8.94% of the company’s stock.
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Cadence Bancorp Company Profile
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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