Cadence Bancorp (CADE) Receives Average Rating of “Buy” from Brokerages

Shares of Cadence Bancorp (NYSE:CADE) have been given an average recommendation of “Buy” by the ten research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $25.75.

A number of research analysts have recently issued reports on CADE shares. SunTrust Banks restated a “hold” rating and issued a $26.00 price target on shares of Cadence Bancorp in a research report on Wednesday, November 1st. BidaskClub upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Zacks Investment Research upgraded shares of Cadence Bancorp from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research note on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 price objective on shares of Cadence Bancorp in a research note on Thursday, October 26th. Finally, Royal Bank of Canada initiated coverage on shares of Cadence Bancorp in a research note on Wednesday, September 6th. They issued an “outperform” rating and a $25.00 price objective for the company.

Shares of Cadence Bancorp (NYSE CADE) traded down $0.15 during midday trading on Friday, hitting $26.71. 364,200 shares of the stock were exchanged, compared to its average volume of 213,617. Cadence Bancorp has a 1 year low of $20.00 and a 1 year high of $27.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.01.

In other Cadence Bancorp news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge funds have recently made changes to their positions in the business. TimesSquare Capital Management LLC purchased a new position in Cadence Bancorp during the 2nd quarter worth $22,211,000. Janus Henderson Group PLC purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth about $21,066,000. Voya Investment Management LLC purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth about $10,533,000. Grand Jean Capital Management Inc. purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth about $6,164,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Cadence Bancorp in the 2nd quarter worth about $5,307,000. Institutional investors and hedge funds own 8.96% of the company’s stock.

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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.

Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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