Cadence Bancorp (CADE) Sets New 1-Year High and Low at $29.40
Cadence Bancorp (NYSE:CADE) hit a new 52-week high and low during trading on Tuesday . The stock traded as low as $29.40 and last traded at $28.66, with a volume of 126696 shares changing hands. The stock had previously closed at $28.61.
CADE has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. ValuEngine raised shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Piper Jaffray initiated coverage on shares of Cadence Bancorp in a research note on Wednesday, March 28th. They issued an “overweight” rating and a $32.00 target price for the company. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $28.00 target price on shares of Cadence Bancorp in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $27.89.
The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The company has a market cap of $2,361.57 and a P/E ratio of 19.08.
Several hedge funds have recently modified their holdings of CADE. Vanguard Group Inc. bought a new stake in shares of Cadence Bancorp during the second quarter worth $383,000. State Street Corp bought a new stake in shares of Cadence Bancorp during the second quarter worth $1,781,000. California State Teachers Retirement System bought a new stake in shares of Cadence Bancorp during the second quarter worth $337,000. Bank of New York Mellon Corp increased its position in shares of Cadence Bancorp by 14.3% during the third quarter. Bank of New York Mellon Corp now owns 27,767 shares of the company’s stock worth $637,000 after acquiring an additional 3,476 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Cadence Bancorp by 49.7% during the third quarter. JPMorgan Chase & Co. now owns 174,287 shares of the company’s stock worth $3,976,000 after acquiring an additional 57,825 shares in the last quarter. 23.82% of the stock is owned by institutional investors.
About Cadence Bancorp
Cadence Bancorp is a bank holding company. The company is focused on providing range of banking and wealth management services to businesses, individuals, business owners and retail customers. It operates through three segments: Banking, Financial Services and Corporate. The Banking segment offers a range of deposit products and lending services through its commercial banking, retail banking and private banking business lines.
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