Cadence Bancorp (NYSE:CADE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
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 analysts have also issued reports on CADE. ValuEngine lowered shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. SunTrust Banks restated a “hold” rating and set a $28.00 price target on shares of Cadence Bancorp in a research report on Tuesday, January 9th. Stephens restated a “buy” rating and set a $32.00 price target on shares of Cadence Bancorp in a research report on Friday, January 26th. Finally, Piper Jaffray started coverage on shares of Cadence Bancorp in a research report on Wednesday, March 28th. They set an “overweight” rating and a $32.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.89.
Cadence Bancorp (NYSE:CADE) last released its earnings results on Wednesday, January 24th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $110.42 million. Cadence Bancorp had a return on equity of 9.50% and a net margin of 20.60%. equities analysts anticipate that Cadence Bancorp will post 1.86 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Meadow Creek Investment Management LLC purchased a new stake in shares of Cadence Bancorp during the fourth quarter worth about $157,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Cadence Bancorp during the fourth quarter worth about $177,000. Jane Street Group LLC purchased a new stake in shares of Cadence Bancorp during the third quarter worth about $210,000. SG Americas Securities LLC purchased a new stake in shares of Cadence Bancorp during the third quarter worth about $245,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Cadence Bancorp by 1,026.2% during the third quarter. Wells Fargo & Company MN now owns 11,307 shares of the company’s stock worth $259,000 after purchasing an additional 10,303 shares during the period. Institutional investors and hedge funds own 23.69% of the company’s stock.
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Cadence Bancorp Company Profile
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.
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