Shares of Cadence Bancorp (NYSE:CADE) hit a new 52-week low during trading on Monday . The stock traded as low as $20.27 and last traded at $20.31, with a volume of 70,821 shares traded. The stock had previously closed at $20.65.

Several analysts have recently commented on CADE shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Cadence Bancorp in a research report on Monday, May 8th. They set a “neutral” rating and a $24.00 price objective for the company. J P Morgan Chase & Co started coverage on shares of Cadence Bancorp in a research report on Monday, May 8th. They set an “overweight” rating and a $26.00 price objective for the company. SunTrust Banks, Inc. started coverage on shares of Cadence Bancorp in a research report on Monday, May 8th. They set a “hold” rating and a $25.00 price objective for the company. Raymond James Financial, Inc. started coverage on shares of Cadence Bancorp in a research report on Monday, May 8th. They set an “outperform” rating for the company. Finally, Robert W. Baird started coverage on shares of Cadence Bancorp in a research report on Wednesday, May 10th. They set an “outperform” rating and a $27.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $25.14.

The stock’s 50 day moving average is $22.18 and its 200-day moving average is $22.27. The firm has a market capitalization of $1.72 billion and a price-to-earnings ratio of 17.46.

Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $105.37 million during the quarter, compared to the consensus estimate of $103.21 million.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Cadence Bancorp during the second quarter valued at approximately $198,000. New York State Common Retirement Fund bought a new position in Cadence Bancorp during the second quarter valued at approximately $203,000. Rhumbline Advisers bought a new position in Cadence Bancorp during the second quarter valued at approximately $207,000. Nationwide Fund Advisors bought a new position in Cadence Bancorp during the second quarter valued at approximately $305,000. Finally, California State Teachers Retirement System bought a new position in Cadence Bancorp during the second quarter valued at approximately $337,000. 0.52% of the stock is owned by hedge funds and other institutional investors.

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About Cadence Bancorp

Cadence Bancorporation is a bank holding company. The Company is focused on middle-market commercial lending, complemented by retail banking and wealth management services, and provides a broad range of banking services to businesses, individuals and business owners. It operates through three segments: Banking, Financial Services and Corporate.

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