Cadence Bancorp (NYSE:CADE) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other brokerages have also recently commented on CADE. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $26.00 target price on shares of Cadence Bancorp in a report on Wednesday, November 1st. Zacks Investment Research upgraded Cadence Bancorp from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 target price on shares of Cadence Bancorp in a report on Thursday, October 26th. Finally, Stephens set a $25.00 target price on Cadence Bancorp and gave the company a “buy” rating in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $25.75.
Shares of Cadence Bancorp (NYSE CADE) opened at $22.05 on Friday. Cadence Bancorp has a twelve month low of $20.00 and a twelve month high of $25.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.00.
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Several institutional investors have recently bought and sold shares of CADE. Russell Investments Group Ltd. bought a new position in shares of Cadence Bancorp during the 2nd quarter worth approximately $198,000. New York State Common Retirement Fund bought a new position in shares of Cadence Bancorp during the 2nd quarter worth approximately $203,000. Rhumbline Advisers bought a new position in shares of Cadence Bancorp during the 2nd quarter worth approximately $207,000. SG Americas Securities LLC bought a new position in shares of Cadence Bancorp during the 3rd quarter worth approximately $245,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Cadence Bancorp by 1,026.2% during the 3rd quarter. Wells Fargo & Company MN now owns 11,307 shares of the company’s stock worth $259,000 after buying an additional 10,303 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.
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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