Cascade Bancorp (CACB) Shares Down 2.6%
Cascade Bancorp (NASDAQ:CACB) shares traded down 2.6% during mid-day trading on Friday . The stock traded as low as $5.57 and last traded at $5.64, with a volume of 83,346 shares traded. The stock had previously closed at $5.79.
Separately, Zacks Investment Research downgraded shares of Cascade Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, April 29th.
The firm has a market cap of $405.76 million and a P/E ratio of 23.50. The stock has a 50-day moving average of $5.59 and a 200 day moving average of $5.59.
Cascade Bancorp (NASDAQ:CACB) last posted its earnings results on Wednesday, July 27th. The financial services provider reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. During the same quarter last year, the firm earned $0.07 EPS. On average, analysts anticipate that Cascade Bancorp will post $0.24 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cascade Bancorp stock. Dimensional Fund Advisors LP boosted its position in Cascade Bancorp (NASDAQ:CACB) by 5.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,625,497 shares of the financial services provider’s stock after buying an additional 79,423 shares during the period. Dimensional Fund Advisors LP owned about 2.26% of Cascade Bancorp worth $9,867,000 at the end of the most recent reporting period.
Cascade Bancorp is a bank holding company. The Company and its subsidiary, Bank of the Cascades (the Bank), operate in Central, Southern and Northwest Oregon, as well as in the greater Boise/Treasury Valley, Idaho and Seattle Metro areas. The Bank offers a range of commercial and retail banking services to its customers through a network of approximately 40 branches serving communities in Central, Southern and Northwest Oregon, as well as in the greater Boise/Treasure Valley, Idaho and Seattle, Washington areas.
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