JPMorgan Chase & Co. Invests $2.55 Million in Cadence Bancorp (CADE) Stock

JPMorgan Chase & Co. purchased a new position in Cadence Bancorp (NYSE:CADE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 116,462 shares of the company’s stock, valued at approximately $2,548,000. JPMorgan Chase & Co. owned approximately 0.14% of Cadence Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CADE. Russell Investments Group Ltd. purchased a new position in Cadence Bancorp in the 2nd quarter worth about $198,000. Emerald Advisers Inc. PA purchased a new position in Cadence Bancorp in the 2nd quarter worth about $1,458,000. Emerald Mutual Fund Advisers Trust purchased a new position in Cadence Bancorp in the 2nd quarter worth about $6,602,000. Schwab Charles Investment Management Inc. purchased a new position in Cadence Bancorp in the 2nd quarter worth about $368,000. Finally, Rhumbline Advisers purchased a new position in Cadence Bancorp in the 2nd quarter worth about $207,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cadence Bancorp (NYSE:CADE) opened at 22.70 on Friday. Cadence Bancorp has a one year low of $20.00 and a one year high of $23.71. The stock’s 50 day moving average price is $21.86 and its 200 day moving average price is $22.12. The firm has a market capitalization of $1.90 billion and a price-to-earnings ratio of 19.32.

Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The firm had revenue of $105.37 million for the quarter, compared to the consensus estimate of $103.21 million.

A number of brokerages have commented on CADE. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, August 15th. BidaskClub upgraded Cadence Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Keefe, Bruyette & Woods restated a “hold” rating and set a $25.00 price objective on shares of Cadence Bancorp in a research report on Friday, July 14th. Stephens set a $25.00 price objective on Cadence Bancorp and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $25.00 price objective on shares of Cadence Bancorp in a research report on Wednesday, October 4th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $25.25.

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Cadence Bancorp 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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Institutional Ownership by Quarter for Cadence Bancorp (NYSE:CADE)

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