Cascade Bancorp (CACB) Sees Strong Trading Volume
Cascade Bancorp (NASDAQ:CACB) shares saw unusually-strong trading volume on Tuesday . Approximately 106,707 shares were traded during mid-day trading, an increase of 78% from the previous session’s volume of 60,008 shares.The stock last traded at $5.74 and had previously closed at $5.70.
Separately, Zacks Investment Research upgraded Cascade Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 4th.
The stock’s 50 day moving average price is $5.61 and its 200-day moving average price is $5.62. The stock has a market capitalization of $415.40 million and a PE ratio of 24.04.
Cascade Bancorp (NASDAQ:CACB) last issued its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. During the same period in the prior year, the business earned $0.07 EPS. On average, analysts forecast that Cascade Bancorp will post $0.24 EPS for the current year.
An institutional investor recently raised its position in Cascade Bancorp stock. Dimensional Fund Advisors LP boosted its position in shares of Cascade Bancorp (NASDAQ:CACB) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 2.26% of Cascade Bancorp worth $9,867,000 as of its most recent filing with the SEC.
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.