Cadence Bancorp (NYSE:CADE) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $17.67.
A number of brokerages recently commented on CADE. JPMorgan Chase & Co. lowered Cadence Bancorp from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $16.50 in a research report on Thursday, October 24th. Stephens reiterated a “hold” rating and issued a $18.00 price objective on shares of Cadence Bancorp in a research report on Wednesday, October 2nd. ValuEngine upgraded Cadence Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Raymond James lowered Cadence Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. Finally, Zacks Investment Research upgraded Cadence Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd.
In related news, Director Joseph W. Evans bought 20,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $16.49 per share, for a total transaction of $329,800.00. Also, CEO Paul B. Murphy, Jr. acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was acquired at an average price of $15.88 per share, with a total value of $158,800.00. Following the completion of the transaction, the chief executive officer now directly owns 508,320 shares in the company, valued at approximately $8,072,121.60. The disclosure for this purchase can be found here. Insiders have bought a total of 37,387 shares of company stock valued at $606,140 over the last 90 days. Corporate insiders own 3.34% of the company’s stock.
CADE stock traded up $0.25 during midday trading on Friday, reaching $17.76. The stock had a trading volume of 28,330 shares, compared to its average volume of 1,017,004. The business has a fifty day simple moving average of $17.35 and a two-hundred day simple moving average of $17.07. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 8.58 and a beta of 1.84. Cadence Bancorp has a twelve month low of $14.66 and a twelve month high of $23.22.
Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.15). The firm had revenue of $194.83 million during the quarter, compared to analyst estimates of $191.73 million. Cadence Bancorp had a return on equity of 9.81% and a net margin of 20.00%. During the same quarter in the previous year, the business earned $0.56 earnings per share. On average, equities analysts predict that Cadence Bancorp will post 1.78 earnings per share for the current fiscal year.
About Cadence Bancorp
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial 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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