Research Analysts’ Weekly Ratings Updates for Cadence Bancorp (CADE)

Several analysts have recently updated their ratings and price targets for Cadence Bancorp (NYSE: CADE):

  • 11/1/2019 – Cadence Bancorp was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/28/2019 – Cadence Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. 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. “
  • 10/24/2019 – Cadence Bancorp was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $16.50 price target on the stock, down previously from $20.00.
  • 10/24/2019 – Cadence Bancorp was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating. They now have a $16.50 price target on the stock, down previously from $20.00.
  • 10/8/2019 – Cadence Bancorp was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
  • 10/2/2019 – Cadence Bancorp was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/2/2019 – Cadence Bancorp had its “hold” rating reaffirmed by analysts at Stephens. They now have a $18.00 price target on the stock.
  • 9/23/2019 – Cadence Bancorp was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. 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. “

Shares of Cadence Bancorp stock traded up $0.03 during trading hours on Monday, hitting $16.40. The company’s stock had a trading volume of 772,723 shares, compared to its average volume of 1,632,506. Cadence Bancorp has a twelve month low of $14.66 and a twelve month high of $23.22. The firm has a fifty day moving average of $16.80 and a 200-day moving average of $18.26. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 7.92 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99.

Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.15). Cadence Bancorp had a net margin of 20.00% and a return on equity of 9.81%. The business had revenue of $194.83 million during the quarter, compared to analyst estimates of $191.73 million. During the same period last year, the company earned $0.56 EPS. On average, sell-side analysts expect that Cadence Bancorp will post 1.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Wednesday, November 27th. Cadence Bancorp’s dividend payout ratio (DPR) is presently 33.82%.

In other news, COO Samuel M. Tortorici bought 6,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were purchased at an average price of $15.68 per share, with a total value of $101,920.00. Following the purchase, the chief operating officer now owns 150,786 shares in the company, valued at $2,364,324.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul B. Murphy, Jr. bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were purchased at an average cost of $15.88 per share, for a total transaction of $158,800.00. Following the purchase, the chief executive officer now owns 508,320 shares in the company, valued at approximately $8,072,121.60. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 37,378 shares of company stock worth $606,289. Corporate insiders own 3.34% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teton Advisors Inc. lifted its stake in Cadence Bancorp by 0.7% during the 2nd quarter. Teton Advisors Inc. now owns 91,606 shares of the company’s stock worth $1,905,000 after acquiring an additional 635 shares in the last quarter. M&T Bank Corp increased its holdings in Cadence Bancorp by 5.0% during the 2nd quarter. M&T Bank Corp now owns 15,236 shares of the company’s stock worth $316,000 after purchasing an additional 725 shares during the period. Parkside Financial Bank & Trust increased its holdings in Cadence Bancorp by 65.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,994 shares of the company’s stock worth $35,000 after purchasing an additional 790 shares during the period. Chartwell Investment Partners LLC increased its holdings in Cadence Bancorp by 0.6% during the 2nd quarter. Chartwell Investment Partners LLC now owns 154,147 shares of the company’s stock worth $3,206,000 after purchasing an additional 975 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Cadence Bancorp by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 52,400 shares of the company’s stock worth $1,090,000 after purchasing an additional 1,118 shares during the period. 91.94% of the stock is currently owned by hedge funds and other institutional investors.

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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