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.
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.
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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.
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