Cadence Bancorp (NYSE:CADE) Cut to Sell at ValuEngine

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ValuEngine cut shares of Cadence Bancorp (NYSE:CADE) from a hold rating to a sell rating in a research report report published on Friday, November 1st, ValuEngine reports.

A number of other brokerages have also recently issued reports on CADE. Raymond James cut Cadence Bancorp from an outperform rating to a market perform rating in a report on Tuesday, October 8th. Piper Jaffray Companies cut Cadence Bancorp from an overweight rating to a neutral rating and decreased their target price for the stock from $20.00 to $16.50 in a report on Thursday, October 24th. JPMorgan Chase & Co. cut Cadence Bancorp from an overweight rating to a neutral rating and decreased their target price for the stock from $20.00 to $16.50 in a report on Thursday, October 24th. Goldman Sachs Group cut Cadence Bancorp from a buy rating to a neutral rating and set a $18.00 target price for the company. in a report on Monday, July 22nd. Finally, Zacks Investment Research lowered Cadence Bancorp from a hold rating to a strong sell rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $19.80.

Cadence Bancorp stock traded down $0.21 during midday trading on Friday, reaching $16.37. 1,141,497 shares of the company were exchanged, compared to its average volume of 1,636,469. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 7.91 and a beta of 1.79. The firm’s 50-day simple moving average is $16.80 and its 200-day simple moving average is $18.26. Cadence Bancorp has a 1 year low of $14.66 and a 1 year high of $23.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99.

Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.15). The company had revenue of $194.83 million for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.56 EPS. On average, analysts forecast that Cadence Bancorp will post 1.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Wednesday, November 27th. Cadence Bancorp’s payout ratio is 33.82%.

In other news, CEO Paul B. Murphy, Jr. acquired 10,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was acquired at an average price of $15.88 per share, for a total transaction of $158,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 508,320 shares in the company, valued at approximately $8,072,121.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Samuel M. Tortorici acquired 6,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was purchased at an average price of $15.68 per share, with a total value of $101,920.00. Following the acquisition, the chief operating officer now owns 150,786 shares of the company’s stock, valued at $2,364,324.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 37,378 shares of company stock worth $606,289. 3.34% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Cadence Bancorp by 65.6% during the third quarter. Parkside Financial Bank & Trust now owns 1,994 shares of the company’s stock valued at $35,000 after purchasing an additional 790 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Cadence Bancorp during the third quarter valued at $39,000. LS Investment Advisors LLC purchased a new stake in shares of Cadence Bancorp during the third quarter valued at $47,000. Point72 Asset Management L.P. purchased a new stake in shares of Cadence Bancorp during the second quarter valued at $50,000. Finally, Usca Ria LLC purchased a new stake in shares of Cadence Bancorp during the third quarter valued at $63,000. Institutional investors and hedge funds own 91.94% of the company’s stock.

Cadence Bancorp Company Profile

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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Analyst Recommendations for Cadence Bancorp (NYSE:CADE)

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