Cadence Bancorp (NYSE:CADE) has been given an average recommendation of “Hold” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $17.04.
A number of equities analysts have weighed in on CADE shares. ValuEngine downgraded shares of Cadence Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 6th. SunTrust Banks raised their price target on shares of Cadence Bancorp from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. TheStreet downgraded shares of Cadence Bancorp from a “c-” rating to a “d” rating in a research report on Monday, March 9th. Zacks Investment Research downgraded shares of Cadence Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Finally, Morgan Stanley reduced their price target on shares of Cadence Bancorp from $14.50 to $13.25 and set an “equal weight” rating for the company in a research report on Tuesday, March 17th.
Shares of NYSE CADE traded up $0.67 on Thursday, reaching $6.89. 2,647,394 shares of the company’s stock traded hands, compared to its average volume of 1,992,964. Cadence Bancorp has a 12 month low of $5.00 and a 12 month high of $23.22. The business’s 50 day simple moving average is $12.62 and its two-hundred day simple moving average is $15.88. The company has a market cap of $714.64 million, a price-to-earnings ratio of 4.45 and a beta of 1.71. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 10.16%. The ex-dividend date of this dividend was Friday, February 14th. Cadence Bancorp’s dividend payout ratio (DPR) is presently 40.70%.
In related news, Director Marc J. Shapiro bought 25,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was acquired at an average price of $16.13 per share, with a total value of $403,250.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $403,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel M. Tortorici bought 20,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $9.73 per share, with a total value of $194,600.00. In the last ninety days, insiders acquired 59,447 shares of company stock valued at $782,861. 3.34% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Cadence Bancorp by 5.1% during the 1st quarter. FMR LLC now owns 2,703,959 shares of the company’s stock worth $50,158,000 after acquiring an additional 131,997 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Cadence Bancorp during the 1st quarter worth $3,290,000. First Trust Advisors LP boosted its stake in shares of Cadence Bancorp by 112.7% during the 3rd quarter. First Trust Advisors LP now owns 45,080 shares of the company’s stock worth $791,000 after acquiring an additional 23,887 shares during the last quarter. State Street Corp boosted its stake in shares of Cadence Bancorp by 6.6% during the 3rd quarter. State Street Corp now owns 5,282,157 shares of the company’s stock worth $92,649,000 after acquiring an additional 328,146 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Cadence Bancorp by 35.1% during the 3rd quarter. Boston Partners now owns 2,055,027 shares of the company’s stock worth $35,765,000 after acquiring an additional 533,558 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.
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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