Cadence Bancorp’s (CADE) “Hold” Rating Reiterated at SunTrust Banks

SunTrust Banks reaffirmed their hold rating on shares of Cadence Bancorp (NYSE:CADE) in a research note released on Tuesday morning. The brokerage currently has a $28.00 price objective on the stock. SunTrust Banks also issued estimates for Cadence Bancorp’s Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.48 EPS, FY2018 earnings at $1.82 EPS and FY2019 earnings at $2.00 EPS.

A number of other equities analysts also recently issued reports on CADE. Keefe, Bruyette & Woods reissued a hold rating and set a $25.00 price target on shares of Cadence Bancorp in a research report on Tuesday, October 3rd. Zacks Investment Research raised Cadence Bancorp from a hold rating to a buy rating and set a $31.00 price target on the stock in a research report on Monday, January 8th. BidaskClub raised Cadence Bancorp from a hold rating to a buy rating in a research report on Saturday, September 30th. Finally, ValuEngine downgraded Cadence Bancorp from a buy rating to a hold rating in a research report on Tuesday, December 26th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $26.50.

Cadence Bancorp (CADE) opened at $28.17 on Tuesday. Cadence Bancorp has a 12-month low of $20.00 and a 12-month high of $28.45. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42.

In related news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $22.00, for a total transaction of $31,350,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

A number of hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in Cadence Bancorp during the third quarter valued at about $362,000. Cubist Systematic Strategies LLC acquired a new stake in Cadence Bancorp in the third quarter worth about $358,000. Janus Henderson Group PLC boosted its holdings in Cadence Bancorp by 43.3% in the third quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock worth $31,619,000 after acquiring an additional 416,751 shares in the last quarter. Jane Street Group LLC acquired a new stake in Cadence Bancorp in the third quarter worth about $210,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Cadence Bancorp by 90.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 31,952 shares of the company’s stock worth $733,000 after acquiring an additional 15,152 shares in the last quarter. 8.96% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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