Cadence Bancorp (NYSE:CADE) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a report released on Monday, TheStreetRatingsTable reports.
A number of other brokerages have also recently weighed in on CADE. Raymond James increased their price target on Cadence Bancorp from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 5th. Goldman Sachs Group began coverage on Cadence Bancorp in a research report on Tuesday, March 5th. They set a “buy” rating and a $23.00 price target on the stock. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, March 13th. Stephens reiterated a “buy” rating and set a $25.00 price target on shares of Cadence Bancorp in a research report on Tuesday, January 29th. Finally, SunTrust Banks dropped their price target on Cadence Bancorp to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 4th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cadence Bancorp has an average rating of “Buy” and a consensus price target of $25.11.
NYSE:CADE opened at $20.72 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.01. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 10.01 and a beta of 1.47. Cadence Bancorp has a 52 week low of $16.13 and a 52 week high of $31.44.
Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings results on Monday, January 28th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $124.15 million for the quarter, compared to analyst estimates of $123.44 million. Cadence Bancorp had a return on equity of 12.68% and a net margin of 27.38%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, research analysts forecast that Cadence Bancorp will post 2.17 earnings per share for the current fiscal year.
In other Cadence Bancorp news, CFO Valerie Toalson bought 4,984 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $20.06 per share, for a total transaction of $99,979.04. Following the transaction, the chief financial officer now directly owns 63,258 shares in the company, valued at $1,268,955.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel M. Tortorici bought 50,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $19.90 per share, for a total transaction of $995,000.00. Following the completion of the transaction, the chief operating officer now owns 489,988 shares in the company, valued at $9,750,761.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 55,044 shares of company stock worth $1,096,177. 3.34% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its position in Cadence Bancorp by 7.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 8,449 shares of the company’s stock valued at $137,000 after acquiring an additional 588 shares during the period. Federated Investors Inc. PA increased its position in Cadence Bancorp by 0.6% in the 3rd quarter. Federated Investors Inc. PA now owns 147,447 shares of the company’s stock valued at $3,852,000 after acquiring an additional 926 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Cadence Bancorp by 4.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,740 shares of the company’s stock valued at $398,000 after acquiring an additional 1,086 shares during the period. Bowling Portfolio Management LLC increased its position in Cadence Bancorp by 3.6% in the 4th quarter. Bowling Portfolio Management LLC now owns 35,260 shares of the company’s stock valued at $592,000 after acquiring an additional 1,224 shares during the period. Finally, Bank of Montreal Can increased its position in Cadence Bancorp by 205.4% in the 4th quarter. Bank of Montreal Can now owns 2,559 shares of the company’s stock valued at $43,000 after acquiring an additional 1,721 shares during the period.
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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