King Luther Capital Management Corp Sells 23,445 Shares of Cadence Bancorp (CADE)

King Luther Capital Management Corp lessened its stake in shares of Cadence Bancorp (NYSE:CADE) by 11.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,895 shares of the company’s stock after selling 23,445 shares during the period. King Luther Capital Management Corp owned 0.22% of Cadence Bancorp worth $4,284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CADE. Schwab Charles Investment Management Inc. increased its stake in shares of Cadence Bancorp by 90.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 31,952 shares of the company’s stock valued at $733,000 after purchasing an additional 15,152 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Cadence Bancorp by 1,026.2% in the 3rd quarter. Wells Fargo & Company MN now owns 11,307 shares of the company’s stock valued at $259,000 after purchasing an additional 10,303 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cadence Bancorp by 49.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 174,287 shares of the company’s stock valued at $3,976,000 after purchasing an additional 57,825 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Cadence Bancorp in the 3rd quarter valued at $245,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Cadence Bancorp by 14.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,767 shares of the company’s stock valued at $637,000 after purchasing an additional 3,476 shares during the last quarter. Hedge funds and other institutional investors own 8.96% of the company’s stock.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Royal Bank Of Canada assumed coverage on Cadence Bancorp in a research note on Wednesday, September 6th. They issued an “outperform” rating and a $25.00 price target on the stock. SunTrust Banks reiterated a “hold” rating and issued a $25.00 price target on shares of Cadence Bancorp in a research note on Wednesday, October 4th. BidaskClub lowered Cadence Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $25.00 price target on shares of Cadence Bancorp in a research note on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Cadence Bancorp currently has an average rating of “Buy” and an average target price of $25.75.

In related news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $22.00, for a total transaction of $31,350,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Cadence Bancorp (NYSE:CADE) opened at $24.73 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.01. Cadence Bancorp has a twelve month low of $20.00 and a twelve month high of $25.71.

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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.

Institutional Ownership by Quarter for Cadence Bancorp (NYSE:CADE)

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