Cadence Bancorp (NYSE:CADE)’s stock price was up 17.4% on Wednesday . The stock traded as high as $5.78 and last traded at $6.67, approximately 1,126,150 shares changed hands during mid-day trading. A decline of 58% from the average daily volume of 2,658,611 shares. The stock had previously closed at $5.68.
CADE has been the topic of a number of research analyst reports. Zacks Investment Research lowered Cadence Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. SunTrust Banks raised their price target on Cadence Bancorp from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. TheStreet lowered Cadence Bancorp from a “c-” rating to a “d” rating in a research report on Monday, March 9th. Morgan Stanley dropped their price target on Cadence Bancorp from $14.50 to $13.25 and set an “equal weight” rating on the stock in a research report on Tuesday, March 17th. Finally, ValuEngine lowered Cadence Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 6th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Cadence Bancorp has an average rating of “Hold” and a consensus target price of $17.69.
The company has a market cap of $714.64 million, a price-to-earnings ratio of 4.45 and a beta of 1.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a 50-day moving average price of $12.43 and a 200 day moving average price of $15.84.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.05). Cadence Bancorp had a return on equity of 9.20% and a net margin of 20.38%. The business had revenue of $194.81 million for the quarter, compared to analyst estimates of $191.15 million. During the same period in the prior year, the business earned $0.50 EPS. Sell-side analysts expect that Cadence Bancorp will post 1.66 EPS for the current fiscal year.
In other news, Director Marc J. Shapiro bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of $16.13 per share, with a total value of $403,250.00. Following the transaction, the director now owns 25,000 shares in the company, valued at $403,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Samuel M. Tortorici bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $9.73 per share, for a total transaction of $194,600.00. In the last three months, insiders purchased 59,447 shares of company stock worth $782,861. 3.34% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its position in Cadence Bancorp by 1.2% in the 4th quarter. New York State Teachers Retirement System now owns 53,437 shares of the company’s stock valued at $969,000 after buying an additional 637 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Cadence Bancorp by 2.0% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 39,390 shares of the company’s stock valued at $714,000 after purchasing an additional 770 shares in the last quarter. Mason Street Advisors LLC grew its stake in Cadence Bancorp by 2.0% in the fourth quarter. Mason Street Advisors LLC now owns 44,589 shares of the company’s stock valued at $808,000 after purchasing an additional 885 shares in the last quarter. LS Investment Advisors LLC grew its stake in Cadence Bancorp by 35.5% in the fourth quarter. LS Investment Advisors LLC now owns 3,623 shares of the company’s stock valued at $66,000 after purchasing an additional 950 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in Cadence Bancorp by 57.7% in the fourth quarter. Advisor Group Inc. now owns 3,838 shares of the company’s stock valued at $70,000 after purchasing an additional 1,404 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.
Cadence Bancorp Company Profile (NYSE:CADE)
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial 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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