SunTrust Banks Comments on Cadence Bancorp’s FY2018 Earnings (CADE)

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.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Stock Observer and is the sole property of of Stock Observer. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://www.thestockobserver.com/2018/01/12/suntrust-banks-comments-on-cadence-bancorps-fy2018-earnings-cade.html.

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.

Receive News & Ratings for Cadence Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply