Cadence Bancorp (CADE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cadence Bancorp (NYSE:CADE) from a hold rating to a buy rating in a research note released on Monday morning. The firm currently has $31.00 target price on the stock.

According to Zacks, “Cadence BanCorporation is a regional bank holding company. It provides corporations, middle-market companies, small businesses and consumers banking and financial solutions. The company’s services and products include commercial and business banking, treasury management, specialized lending, commercial real estate, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer banking, consumer loans, mortgages, home equity lines and loans and credit cards. Cadence BanCorporation is headquartered in Houston, Texas. “

Several other equities research analysts have also recently weighed in on the company. SunTrust Banks reiterated a hold rating and set a $26.00 price target on shares of Cadence Bancorp in a research report on Wednesday, November 1st. BidaskClub upgraded Cadence Bancorp from a hold rating to a buy rating in a research report on Saturday, November 4th. ValuEngine cut Cadence Bancorp from a buy rating to a hold rating in a research report on Tuesday, December 26th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $26.00 price target on shares of Cadence Bancorp in a research report on Thursday, October 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $26.50.

Shares of Cadence Bancorp (NYSE CADE) traded down $0.08 on Monday, hitting $28.17. The stock had a trading volume of 200,500 shares, compared to its average volume of 507,451. Cadence Bancorp has a 12-month low of $20.00 and a 12-month high of $28.45. The company has a market capitalization of $2,360.00 and a PE ratio of 19.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.01.

In related news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the company’s stock in a transaction that occurred 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 SEC, which is available through the SEC website.

Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in shares of Cadence Bancorp by 43.3% in the third quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock worth $31,619,000 after purchasing an additional 416,751 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Cadence Bancorp in the second quarter worth approximately $22,211,000. Voya Investment Management LLC bought a new position in shares of Cadence Bancorp in the second quarter worth approximately $10,533,000. Emerald Mutual Fund Advisers Trust increased its position in shares of Cadence Bancorp by 16.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 351,883 shares of the company’s stock worth $8,065,000 after purchasing an additional 50,143 shares during the last quarter. Finally, Grand Jean Capital Management Inc. bought a new position in shares of Cadence Bancorp in the second quarter worth approximately $6,164,000. Institutional investors own 8.96% of the company’s stock.

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Cadence Bancorp Company Profile

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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