Cascade Bancorp (CACB) Trading Down 2.6%
Cascade Bancorp (NASDAQ:CACB) dropped 2.6% on Friday . The stock traded as low as $5.57 and last traded at $5.64, with a volume of 83,346 shares trading hands. The stock had previously closed at $5.79.
Separately, Zacks Investment Research raised Cascade Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 4th.
The firm’s 50 day moving average is $5.59 and its 200-day moving average is $5.59. The stock has a market capitalization of $405.76 million and a price-to-earnings ratio of 23.50.
Cascade Bancorp (NASDAQ:CACB) last released its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. During the same period last year, the business earned $0.07 EPS. On average, analysts predict that Cascade Bancorp will post $0.24 EPS for the current fiscal year.
A hedge fund recently raised its stake in Cascade Bancorp stock. Dimensional Fund Advisors LP increased its stake in Cascade Bancorp (NASDAQ:CACB) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.
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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