Cadence Bancorp (NYSE:CADE) Director J Thomas Wiley, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $8.14, for a total transaction of $407,000.00. Following the sale, the director now owns 302,560 shares of the company’s stock, valued at approximately $2,462,838.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
NYSE:CADE opened at $7.81 on Friday. The company has a market cap of $984.77 million, a price-to-earnings ratio of -2.73 and a beta of 2.01. The company has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $9.85. Cadence Bancorp has a 52 week low of $4.63 and a 52 week high of $18.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.18.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.57). The firm had revenue of $184.66 million for the quarter, compared to analysts’ expectations of $188.02 million. Cadence Bancorp had a positive return on equity of 2.26% and a negative net margin of 38.95%. On average, analysts expect that Cadence Bancorp will post 0.3 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Stieven Capital Advisors L.P. lifted its position in shares of Cadence Bancorp by 41.7% during the 1st quarter. Stieven Capital Advisors L.P. now owns 949,127 shares of the company’s stock worth $6,217,000 after purchasing an additional 279,227 shares during the last quarter. Jane Street Group LLC purchased a new stake in Cadence Bancorp in the fourth quarter valued at $224,000. Bank of New York Mellon Corp lifted its position in Cadence Bancorp by 19.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,075,021 shares of the company’s stock valued at $37,621,000 after acquiring an additional 334,005 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Cadence Bancorp in the second quarter valued at $8,926,000. Finally, HighTower Advisors LLC purchased a new stake in Cadence Bancorp in the first quarter valued at $303,000. 89.35% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on CADE shares. Raymond James upgraded shares of Cadence Bancorp from a “market perform” rating to a “strong-buy” rating and set a $12.00 price target for the company in a report on Wednesday, June 17th. Piper Sandler dropped their target price on shares of Cadence Bancorp from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Morgan Stanley lifted their target price on shares of Cadence Bancorp from $6.50 to $9.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Zacks Investment Research downgraded shares of Cadence Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $10.00 target price on shares of Cadence Bancorp in a report on Thursday, July 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $13.75.
Cadence Bancorp Company Profile
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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