Cadence Bancorp (NYSE:CADE) – SunTrust Banks raised their FY2018 earnings per share (EPS) estimates for Cadence Bancorp in a report issued on Monday. SunTrust Banks analyst J. Demba now expects that the company will post earnings of $1.82 per share for the year, up from their previous estimate of $1.56. SunTrust Banks currently has a “Hold” rating and a $28.00 price target on the stock.
Several other equities research analysts have also recently commented on CADE. Zacks Investment Research raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, September 27th. BidaskClub raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Cadence Bancorp in a research report on Tuesday, October 3rd. Finally, ValuEngine cut shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Cadence Bancorp has a consensus rating of “Buy” and a consensus price target of $26.50.
Cadence Bancorp (NYSE CADE) traded down $0.08 on Wednesday, reaching $28.17. 200,510 shares of the company traded hands, compared to its average volume of 507,451. The company has a market cap of $2,360.00 and a PE ratio of 19.56. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $28.45. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.42.
A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Cadence Bancorp by 43.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock valued at $31,619,000 after buying an additional 416,751 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in Cadence Bancorp in the 2nd quarter valued at $22,211,000. Voya Investment Management LLC acquired a new stake in Cadence Bancorp in the 2nd quarter valued at $10,533,000. Emerald Mutual Fund Advisers Trust increased its stake in Cadence Bancorp by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 351,883 shares of the company’s stock valued at $8,065,000 after buying an additional 50,143 shares during the last quarter. Finally, Grand Jean Capital Management Inc. acquired a new stake in Cadence Bancorp in the 2nd quarter valued at $6,164,000. Hedge funds and other institutional investors own 8.96% of the company’s stock.
In other Cadence Bancorp news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of Cadence Bancorp stock in a transaction on Friday, November 17th. The shares were sold at an average price of $22.00, for a total value of $31,350,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
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About Cadence Bancorp
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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