Shares of Cadence Bancorp (NYSE:CADE) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $26.86.
Several analysts have issued reports on CADE shares. BidaskClub downgraded shares of Cadence Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. ValuEngine downgraded shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Zacks Investment Research downgraded shares of Cadence Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. SunTrust Banks reaffirmed a “hold” rating and issued a $28.00 price target on shares of Cadence Bancorp in a research note on Tuesday, January 9th. Finally, Stephens reaffirmed a “buy” rating and issued a $32.00 price target on shares of Cadence Bancorp in a research note on Friday, January 26th.
A number of large investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new stake in Cadence Bancorp during the fourth quarter valued at about $334,000. MetLife Investment Advisors LLC bought a new stake in Cadence Bancorp during the fourth quarter valued at about $259,000. Metropolitan Life Insurance Co. NY bought a new stake in Cadence Bancorp during the fourth quarter valued at about $177,000. Millennium Management LLC boosted its holdings in Cadence Bancorp by 7,721.1% during the fourth quarter. Millennium Management LLC now owns 982,804 shares of the company’s stock valued at $26,654,000 after acquiring an additional 970,238 shares during the period. Finally, Meadow Creek Investment Management LLC bought a new stake in Cadence Bancorp during the fourth quarter valued at about $157,000. Hedge funds and other institutional investors own 23.44% of the company’s stock.
Cadence Bancorp (CADE) traded down $0.07 during midday trading on Wednesday, hitting $28.98. The company’s stock had a trading volume of 208,114 shares, compared to its average volume of 429,191. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.01 and a quick ratio of 1.01. Cadence Bancorp has a 52 week low of $20.00 and a 52 week high of $29.28. The company has a market capitalization of $2,372.44 and a PE ratio of 23.00.
Cadence Bancorp (NYSE:CADE) last announced its earnings results on Wednesday, January 24th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Cadence Bancorp had a net margin of 20.60% and a return on equity of 9.71%. The company had revenue of $113.57 million for the quarter, compared to the consensus estimate of $110.42 million. sell-side analysts predict that Cadence Bancorp will post 1.86 earnings per share for the current year.
The firm also recently disclosed a special dividend, which will be paid on Tuesday, March 20th. Investors of record on Thursday, March 1st will be issued a $0.125 dividend. This represents a yield of 0.00441540091840339%. The ex-dividend date is Wednesday, February 28th. Cadence Bancorp’s dividend payout ratio is presently 39.68%.
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About Cadence Bancorp
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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