Shares of Cadence Bancorp (NYSE:CADE) have earned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $30.57.

Several analysts recently weighed in on the company. Zacks Investment Research lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Keefe, Bruyette & Woods raised Cadence Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Thursday, November 8th. ValuEngine lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Raymond James cut their price target on Cadence Bancorp from $36.00 to $35.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 24th. Finally, Morgan Stanley began coverage on Cadence Bancorp in a research note on Tuesday, September 25th. They set an “equal weight” rating and a $30.00 price target on the stock.

NYSE:CADE traded down $0.40 during trading hours on Monday, hitting $20.77. The company’s stock had a trading volume of 1,350,300 shares, compared to its average volume of 1,027,558. The firm has a market capitalization of $1.77 billion, a PE ratio of 14.03 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Cadence Bancorp has a twelve month low of $20.34 and a twelve month high of $31.44.

Cadence Bancorp (NYSE:CADE) last released its quarterly earnings data on Monday, October 22nd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $122.08 million for the quarter, compared to analyst estimates of $120.97 million. Cadence Bancorp had a return on equity of 12.30% and a net margin of 25.78%. On average, analysts anticipate that Cadence Bancorp will post 2.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a $0.15 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 2.89%. Cadence Bancorp’s payout ratio is currently 40.54%.

In other Cadence Bancorp news, President Samuel M. Tortorici sold 100,943 shares of Cadence Bancorp stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.41, for a total value of $2,766,847.63. Following the completion of the sale, the president now directly owns 18,659 shares in the company, valued at $511,443.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Valerie Toalson sold 25,160 shares of Cadence Bancorp stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.41, for a total value of $689,635.60. Following the completion of the sale, the insider now owns 11,608 shares of the company’s stock, valued at $318,175.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 401,103 shares of company stock valued at $10,994,233. 0.09% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of Cadence Bancorp by 48.4% during the second quarter. Legal & General Group Plc now owns 7,525 shares of the company’s stock valued at $217,000 after acquiring an additional 2,453 shares in the last quarter. Connable Office Inc. increased its holdings in shares of Cadence Bancorp by 25.5% during the third quarter. Connable Office Inc. now owns 13,059 shares of the company’s stock valued at $341,000 after acquiring an additional 2,650 shares in the last quarter. Neuburgh Advisers LLC increased its holdings in shares of Cadence Bancorp by 104.7% during the second quarter. Neuburgh Advisers LLC now owns 5,568 shares of the company’s stock valued at $161,000 after acquiring an additional 2,848 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Cadence Bancorp by 106.7% during the second quarter. Riverhead Capital Management LLC now owns 6,201 shares of the company’s stock valued at $179,000 after acquiring an additional 3,201 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its holdings in shares of Cadence Bancorp by 104.7% during the second quarter. Glen Harbor Capital Management LLC now owns 7,656 shares of the company’s stock valued at $221,000 after acquiring an additional 3,916 shares in the last quarter. Hedge funds and other institutional investors own 87.82% of the company’s stock.

About Cadence Bancorp

Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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