Cadence Bancorp’s (CADE) “Hold” Rating Reaffirmed at SunTrust Banks

SunTrust Banks reiterated their hold rating on shares of Cadence Bancorp (NYSE:CADE) in a report released on Tuesday morning. They currently have a $28.00 price objective on the stock. SunTrust Banks also issued estimates for Cadence Bancorp’s Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.48 EPS, FY2018 earnings at $1.82 EPS and FY2019 earnings at $2.00 EPS.

Several other analysts have also recently commented on CADE. Zacks Investment Research upgraded shares of Cadence Bancorp from a hold rating to a buy rating and set a $25.00 price objective for the company in a research note on Wednesday, September 27th. BidaskClub upgraded shares of Cadence Bancorp from a hold rating to a buy rating in a research note on Saturday, September 30th. Keefe, Bruyette & Woods restated a hold rating and set a $25.00 price objective on shares of Cadence Bancorp in a research note on Tuesday, October 3rd. Finally, ValuEngine cut shares of Cadence Bancorp from a buy rating to a hold rating in a research note on Tuesday, December 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $26.50.

Shares of Cadence Bancorp (NYSE CADE) traded up $0.07 during midday trading on Tuesday, reaching $27.71. 379,561 shares of the company’s stock traded hands, compared to its average volume of 357,629. 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 $28.08. The firm has a market cap of $2,340.00 and a PE ratio of 19.24.

In related 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 value of $31,350,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Several institutional investors and hedge funds have recently bought and sold shares of CADE. Russell Investments Group Ltd. acquired a new position in shares of Cadence Bancorp in the 2nd quarter valued at $198,000. New York State Common Retirement Fund acquired a new position in shares of Cadence Bancorp in the 2nd quarter valued at $203,000. Rhumbline Advisers acquired a new position in shares of Cadence Bancorp in the 2nd quarter valued at $207,000. Jane Street Group LLC acquired a new position in shares of Cadence Bancorp in the 3rd quarter valued at $210,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cadence Bancorp in the 3rd quarter valued at $245,000. Hedge funds and other institutional investors own 8.96% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.com-unik.info/2018/01/10/cadence-bancorps-cade-hold-rating-reaffirmed-at-suntrust-banks.html.

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)

Receive News & Ratings for Cadence Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit