Cadence Bancorp (CADE) Receives $26.50 Consensus Target Price from Analysts

Shares of Cadence Bancorp (NYSE:CADE) have been given an average rating of “Buy” by the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $26.50.

A number of equities analysts have weighed in on CADE shares. ValuEngine cut shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. SunTrust Banks restated a “hold” rating and set a $26.00 price objective on shares of Cadence Bancorp in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, September 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 target price on shares of Cadence Bancorp in a report on Thursday, October 26th.

In other news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $22.00, for a total transaction of $31,350,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new stake in shares of Cadence Bancorp in the second quarter valued at about $21,066,000. Voya Investment Management LLC purchased a new stake in shares of Cadence Bancorp in the second quarter valued at about $10,533,000. Grand Jean Capital Management Inc. purchased a new stake in shares of Cadence Bancorp in the second quarter valued at about $6,164,000. Lord Abbett & CO. LLC purchased a new stake in shares of Cadence Bancorp in the second quarter valued at about $5,307,000. Finally, FMR LLC purchased a new stake in shares of Cadence Bancorp in the second quarter valued at about $2,580,000. 8.96% of the stock is owned by institutional investors and hedge funds.

Cadence Bancorp (CADE) traded up $0.66 during trading hours on Tuesday, reaching $28.73. 195,506 shares of the company’s stock were exchanged, compared to its average volume of 286,623. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.42. Cadence Bancorp has a 52 week low of $20.00 and a 52 week high of $28.77.

Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. Cadence Bancorp had a net margin of 24.71% and a return on equity of 9.66%. equities research analysts predict that Cadence Bancorp will post 1.45 EPS for the current year.

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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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