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

A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Monday, August 14th. J P Morgan Chase & Co assumed coverage on shares of Cadence Bancorp in a report on Monday, May 15th. They issued an “overweight” rating and a $26.00 price target on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Cadence Bancorp in a report on Monday, May 15th. They issued a “neutral” rating and a $24.00 price target on the stock. Stephens reiterated an “overweight” rating and issued a $25.00 price target on shares of Cadence Bancorp in a report on Wednesday, May 10th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Cadence Bancorp in a report on Monday, May 8th. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cadence Bancorp has an average rating of “Buy” and a consensus price target of $25.14.

The company has a market cap of $1.74 billion and a P/E ratio of 17.69. The stock’s 50 day moving average price is $22.14 and its 200 day moving average price is $22.25.

Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $105.37 million for the quarter, compared to analysts’ expectations of $103.21 million.

A number of institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Cadence Bancorp during the second quarter valued at about $198,000. New York State Common Retirement Fund bought a new position in Cadence Bancorp during the second quarter valued at about $203,000. Rhumbline Advisers bought a new position in Cadence Bancorp during the second quarter valued at about $207,000. Nationwide Fund Advisors bought a new position in Cadence Bancorp during the second quarter valued at about $305,000. Finally, California State Teachers Retirement System bought a new position in Cadence Bancorp during the second quarter valued at about $337,000. 0.52% of the stock is currently owned by institutional investors and hedge funds.

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Cadence Bancorp Company Profile

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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