Cascade Bancorp (CACB) Upgraded to “Hold” at Zacks Investment Research
Cascade Bancorp (NASDAQ:CACB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Cascade Bancorp is a financial holding company. “
Shares of Cascade Bancorp (NASDAQ:CACB) traded down 0.42% on Tuesday, reaching $7.17. 1,358,920 shares of the company’s stock traded hands. Cascade Bancorp has a 52-week low of $5.01 and a 52-week high of $7.37. The firm’s 50-day moving average is $6.48 and its 200-day moving average is $5.95. The stock has a market cap of $538.12 million, a price-to-earnings ratio of 31.59 and a beta of 0.58.
Cascade Bancorp (NASDAQ:CACB) last issued its earnings results on Wednesday, October 26th. The financial services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01. Cascade Bancorp had a return on equity of 4.73% and a net margin of 14.04%. During the same quarter in the previous year, the firm earned $0.07 earnings per share. Analysts anticipate that Cascade Bancorp will post $0.23 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of Cascade Bancorp during the second quarter valued at about $157,000. Bank of New York Mellon Corp boosted its position in Cascade Bancorp by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 98,478 shares of the financial services provider’s stock valued at $546,000 after buying an additional 3,123 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Cascade Bancorp during the first quarter valued at $105,000. FSI Group LLC boosted its position in Cascade Bancorp by 132.0% in the second quarter. FSI Group LLC now owns 519,000 shares of the financial services provider’s stock valued at $2,875,000 after buying an additional 295,263 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Cascade Bancorp by 0.6% in the second quarter. California State Teachers Retirement System now owns 65,847 shares of the financial services provider’s stock valued at $365,000 after buying an additional 372 shares during the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.
Cascade Bancorp Company Profile
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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