FY2018 EPS Estimates for Cadence Bancorp Boosted by SunTrust Banks (CADE)

Cadence Bancorp (NYSE:CADE) – Equities research analysts at SunTrust Banks increased their FY2018 earnings estimates for Cadence Bancorp in a report issued on Monday. SunTrust Banks analyst J. Demba now anticipates that the company will earn $1.82 per share for the year, up from their prior estimate of $1.56. SunTrust Banks has a “Hold” rating and a $28.00 price objective on the stock.

Several other research firms have also issued reports on CADE. Zacks Investment Research lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub upgraded Cadence Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 price target on shares of Cadence Bancorp in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Cadence Bancorp presently has an average rating of “Buy” and a consensus price target of $26.50.

Cadence Bancorp (CADE) traded up $0.54 during midday trading on Wednesday, hitting $28.25. The stock had a trading volume of 152,609 shares, compared to its average volume of 332,001. The firm has a market cap of $2,340.00 and a PE ratio of 19.62. Cadence Bancorp has a one year low of $20.00 and a one year high of $28.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.01 and a quick ratio of 1.01.

In other 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 value of $31,350,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

A number of hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in Cadence Bancorp during the third quarter worth about $362,000. Cubist Systematic Strategies LLC bought a new position in Cadence Bancorp during the third quarter worth about $358,000. Janus Henderson Group PLC lifted its holdings in Cadence Bancorp by 43.3% during the third quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock worth $31,619,000 after acquiring an additional 416,751 shares in the last quarter. Jane Street Group LLC bought a new position in Cadence Bancorp during the third quarter worth about $210,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Cadence Bancorp by 90.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 31,952 shares of the company’s stock worth $733,000 after acquiring an additional 15,152 shares in the last quarter. 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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