Cadence Bancorp (CADE) Sets New 52-Week High and Low at $29.40

Shares of Cadence Bancorp (NYSE:CADE) hit a new 52-week high and low on Tuesday . The stock traded as low as $29.40 and last traded at $28.66, with a volume of 126696 shares. The stock had previously closed at $28.61.

Several analysts have weighed in on the stock. ValuEngine raised shares of Cadence Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Monday. Zacks Investment Research raised shares of Cadence Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 10th. Piper Jaffray assumed coverage on shares of Cadence Bancorp in a research note on Wednesday, March 28th. They set an “overweight” rating and a $32.00 price objective on the stock. Stephens reaffirmed a “buy” rating and set a $32.00 price objective on shares of Cadence Bancorp in a research note on Friday, January 26th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $28.00 price objective on shares of Cadence Bancorp in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Cadence Bancorp currently has an average rating of “Buy” and a consensus target price of $27.89.

Get Cadence Bancorp alerts:

The stock has a market capitalization of $2,361.57 and a PE ratio of 19.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 1.00.

Cadence Bancorp (NYSE:CADE) last announced its earnings results on Wednesday, January 24th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Cadence Bancorp had a net margin of 20.60% and a return on equity of 9.50%. The company had revenue of $113.57 million for the quarter, compared to analyst estimates of $110.42 million. equities research analysts expect that Cadence Bancorp will post 1.87 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in CADE. Vanguard Group Inc. acquired a new position in Cadence Bancorp in the second quarter valued at approximately $383,000. State Street Corp acquired a new position in Cadence Bancorp in the second quarter valued at approximately $1,781,000. California State Teachers Retirement System acquired a new position in Cadence Bancorp in the second quarter valued at approximately $337,000. Bank of New York Mellon Corp lifted its holdings in Cadence Bancorp by 14.3% in the third quarter. Bank of New York Mellon Corp now owns 27,767 shares of the company’s stock valued at $637,000 after buying an additional 3,476 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Cadence Bancorp by 49.7% in the third quarter. JPMorgan Chase & Co. now owns 174,287 shares of the company’s stock valued at $3,976,000 after buying an additional 57,825 shares during the period. Institutional investors own 23.82% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Cadence Bancorp (CADE) Sets New 52-Week High and Low at $29.40” was first reported by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at www.tickerreport.com/banking-finance/3385645/cadence-bancorp-cade-sets-new-52-week-high-and-low-at-29-40.html.

About Cadence Bancorp

Cadence Bancorp is a bank holding company. The company is focused on providing range of banking and wealth management services to businesses, individuals, business owners and retail customers. It operates through three segments: Banking, Financial Services and Corporate. The Banking segment offers a range of deposit products and lending services through its commercial banking, retail banking and private banking business lines.

Leave a Reply

Your email address will not be published. Required fields are marked *