Brokerages Set Cadence Bancorp (CADE) Price Target at $27.38

Cadence Bancorp (NYSE:CADE) has been assigned an average rating of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $27.38.

A number of research firms have commented on CADE. Stephens reiterated a “buy” rating and issued a $32.00 price objective on shares of Cadence Bancorp in a report on Friday, January 26th. ValuEngine upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 5th. SunTrust Banks reiterated a “hold” rating and issued a $28.00 price objective on shares of Cadence Bancorp in a report on Tuesday, January 9th. Finally, BidaskClub upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 4th.

In other news, major shareholder Cadence Bancorp, Llc sold 1,425,000 shares of the 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 Securities & Exchange Commission, which is accessible through the SEC website.

Institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund purchased a new stake in shares of Cadence Bancorp in the 2nd quarter valued at approximately $203,000. Rhumbline Advisers purchased a new stake in shares of Cadence Bancorp in the 2nd quarter valued at approximately $207,000. Jane Street Group LLC purchased a new stake in shares of Cadence Bancorp in the 3rd quarter valued at approximately $210,000. SG Americas Securities LLC purchased a new stake in shares of Cadence Bancorp in the 3rd quarter valued at approximately $245,000. Finally, Wells Fargo & Company MN grew 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 buying an additional 10,303 shares during the period. 10.80% of the stock is owned by institutional investors and hedge funds.

Shares of Cadence Bancorp (NYSE:CADE) opened at $27.11 on Friday. The company has a market cap of $2,202.68 and a PE ratio of 17.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.42. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $28.77.

The company also recently declared a special dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Thursday, March 1st will be paid a $0.125 dividend. The ex-dividend date is Wednesday, February 28th. This represents a dividend yield of 0.00441540091840339%.

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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.

Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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