Cadence Bancorp (CADE) Downgraded by ValuEngine

ValuEngine cut shares of Cadence Bancorp (NYSE:CADE) from a sell rating to a strong sell rating in a research note released on Friday.

Other equities analysts also recently issued reports about the stock. Stephens set a $34.00 price target on shares of Cadence Bancorp and gave the stock a buy rating in a report on Monday, October 22nd. Zacks Investment Research raised shares of Cadence Bancorp from a hold rating to a buy rating and set a $29.00 price target on the stock in a report on Monday, October 8th. Morgan Stanley assumed coverage on shares of Cadence Bancorp in a report on Tuesday, September 25th. They issued an equal weight rating and a $30.00 price target on the stock. Keefe, Bruyette & Woods upgraded Cadence Bancorp from a market perform rating to an outperform rating and set a $32.00 price objective on the stock in a research note on Thursday, November 8th. Finally, Royal Bank of Canada restated an outperform rating and issued a $28.00 price objective on shares of Cadence Bancorp in a research note on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Cadence Bancorp has a consensus rating of Buy and a consensus price target of $30.38.

Shares of NYSE:CADE opened at $20.79 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.72 billion, a P/E ratio of 14.05 and a beta of 1.16. Cadence Bancorp has a fifty-two week low of $20.09 and a fifty-two week high of $31.44.

Cadence Bancorp (NYSE:CADE) last issued its quarterly earnings results on Monday, October 22nd. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. The company had revenue of $122.08 million for the quarter, compared to the consensus estimate of $120.97 million. Cadence Bancorp had a net margin of 25.78% and a return on equity of 12.30%. On average, analysts expect that Cadence Bancorp will post 2.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, November 30th. Cadence Bancorp’s dividend payout ratio is currently 40.54%.

In other news, insider Jerry W. Powell acquired 4,000 shares of the stock in a transaction that occurred on Wednesday, October 24th. The shares were acquired at an average cost of $20.49 per share, for a total transaction of $81,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William B. Harrison, Jr. acquired 23,000 shares of the stock in a transaction that occurred on Wednesday, October 24th. The stock was purchased at an average price of $21.72 per share, for a total transaction of $499,560.00. Following the completion of the purchase, the director now directly owns 90,919 shares in the company, valued at approximately $1,974,760.68. The disclosure for this purchase can be found here. Insiders sold a total of 401,103 shares of company stock worth $10,994,233 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CADE. Neuburgh Advisers LLC increased its position in shares of Cadence Bancorp by 104.7% during the second quarter. Neuburgh Advisers LLC now owns 5,568 shares of the company’s stock valued at $161,000 after buying an additional 2,848 shares during the period. SG Americas Securities LLC bought a new stake in shares of Cadence Bancorp during the second quarter valued at about $165,000. Royal Bank of Canada increased its position in shares of Cadence Bancorp by 609.9% during the first quarter. Royal Bank of Canada now owns 6,389 shares of the company’s stock valued at $174,000 after buying an additional 5,489 shares during the period. Riverhead Capital Management LLC increased its position in shares of Cadence Bancorp by 106.7% in the second quarter. Riverhead Capital Management LLC now owns 6,201 shares of the company’s stock worth $179,000 after purchasing an additional 3,201 shares during the last quarter. Finally, Amalgamated Bank bought a new position in shares of Cadence Bancorp in the third quarter worth approximately $205,000.

About Cadence Bancorp

Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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