Shares of Cadence Bancorp (NYSE:CADE) have earned an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $17.67.
A number of analysts have commented on CADE shares. Stephens reaffirmed a “hold” rating and set a $18.00 price objective on shares of Cadence Bancorp in a research note on Wednesday, October 2nd. ValuEngine raised shares of Cadence Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered shares of Cadence Bancorp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $16.50 in a research note on Thursday, October 24th. SunTrust Banks upped their price objective on shares of Cadence Bancorp from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Finally, Piper Jaffray Companies lowered shares of Cadence Bancorp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $16.50 in a research report on Thursday, October 24th.
In other news, COO Samuel M. Tortorici bought 6,500 shares of the stock in a transaction on Monday, October 28th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $101,920.00. Following the completion of the purchase, the chief operating officer now directly owns 150,786 shares of the company’s stock, valued at approximately $2,364,324.48. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph W. Evans bought 20,000 shares of the stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $16.49 per share, for a total transaction of $329,800.00. Over the last quarter, insiders have purchased 37,387 shares of company stock valued at $606,140. 3.34% of the stock is owned by corporate insiders.
CADE traded up $0.25 during trading on Friday, reaching $17.76. The company had a trading volume of 28,330 shares, compared to its average volume of 1,017,004. The firm’s 50-day simple moving average is $17.35 and its 200 day simple moving average is $17.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 8.58 and a beta of 1.84. Cadence Bancorp has a 12-month low of $14.66 and a 12-month high of $23.22.
Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.15). Cadence Bancorp had a net margin of 20.00% and a return on equity of 9.81%. The firm had revenue of $194.83 million for the quarter, compared to analysts’ expectations of $191.73 million. During the same period in the prior year, the company posted $0.56 earnings per share. On average, sell-side analysts expect that Cadence Bancorp will post 1.78 EPS for the current year.
About Cadence Bancorp
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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