Keefe, Bruyette & Woods Reaffirms “Hold” Rating for Cadence Bancorp (NYSE:CADE)

Cadence Bancorp (NYSE:CADE)‘s stock had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a note issued to investors on Friday, July 14th. They presently have a $25.00 target price on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 21.07% from the company’s current price.

CADE has been the subject of a number of other reports. Raymond James Financial, Inc. initiated coverage on shares of Cadence Bancorp in a report on Monday, May 15th. They set an “outperform” rating for the company. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Cadence Bancorp in a report on Monday, May 8th. They set a “neutral” rating and a $24.00 target price for the company. Robert W. Baird initiated coverage on shares of Cadence Bancorp in a report on Wednesday, May 10th. They set an “outperform” rating and a $27.00 target price for the company. SunTrust Banks, Inc. initiated coverage on shares of Cadence Bancorp in a report on Monday, May 8th. They set a “hold” rating and a $25.00 target price for the company. Finally, J P Morgan Chase & Co started coverage on shares of Cadence Bancorp in a report on Monday, May 8th. They set an “overweight” rating and a $26.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $25.29.

Cadence Bancorp (CADE) opened at 20.65 on Friday. The company has a 50-day moving average of $21.92 and a 200-day moving average of $22.20. Cadence Bancorp has a 1-year low of $16.90 and a 1-year high of $23.71. The stock has a market capitalization of $1.73 billion and a price-to-earnings ratio of 17.57.

Cadence Bancorp (NYSE:CADE) last announced its earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. The business had revenue of $105.37 million for the quarter, compared to analysts’ expectations of $103.21 million.

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Several hedge funds have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust bought a new position in Cadence Bancorp during the second quarter valued at $6,602,000. Emerald Advisers Inc. PA bought a new position in Cadence Bancorp during the second quarter valued at $1,458,000. Russell Investments Group Ltd. bought a new position in Cadence Bancorp during the second quarter valued at $198,000. Nationwide Fund Advisors bought a new position in Cadence Bancorp during the second quarter valued at $305,000. Finally, King Luther Capital Management Corp bought a new position in Cadence Bancorp during the second quarter valued at $4,602,000. 0.46% of the stock is owned by hedge funds and other institutional investors.

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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