Shares of Cadence Bancorp (NYSE:CADE) reached a new 52-week high on Thursday . The company traded as high as $24.99 and last traded at $0.00, with a volume of shares changing hands.
CADE has been the subject of a number of recent research reports. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, August 15th. BidaskClub upgraded Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. SunTrust Banks, Inc. reiterated a “hold” rating and set a $26.00 price target on shares of Cadence Bancorp in a report on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $25.00 price target on shares of Cadence Bancorp in a report on Friday, July 14th. Finally, Stephens set a $25.00 price target on Cadence Bancorp and gave the stock a “buy” rating in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.75.
The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.38.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC bought a new position in shares of Cadence Bancorp during the 2nd quarter worth approximately $22,211,000. Chilton Investment Co. LLC purchased a new position in Cadence Bancorp in the 2nd quarter valued at approximately $1,967,000. JPMorgan Chase & Co. purchased a new position in Cadence Bancorp in the 2nd quarter valued at approximately $2,548,000. Citadel Advisors LLC purchased a new position in Cadence Bancorp in the 2nd quarter valued at approximately $1,244,000. Finally, Russell Investments Group Ltd. purchased a new position in Cadence Bancorp in the 2nd quarter valued at approximately $198,000. 9.12% of the stock is currently owned by institutional investors and hedge funds.
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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