Cadence Bancorp (NYSE:CADE) Receives Average Recommendation of "Buy" from Brokerages

A number of other research firms have also recently commented on CADE. (The) started coverage on Cadence Bancorp in a report on Monday, May 8th. Piper Jaffray Companies cut shares of Triumph Bancorp from an overweight rating to a neutral rating and set a $24.00 price target for the company.in a report on Monday, April 24th. They set a "hold" rating and a $25.00 target price on the stock. SunTrust Banks, Inc. started coverage on shares of Cadence Bancorp in a report on Monday, May 8th. They set a "hold" rating and a $25.00 target price on the stock. Raymond James Financial, Inc. started coverage on Cadence Bancorp in a report on Monday, May 15th. They set an "outperform" rating on the stock. Finally, Robert W. Baird assumed coverage on shares of Cadence Bancorp in a report on Wednesday, May 10th. The average twelve-month target price among brokers that have issued ratings on the stock in the previous year is $25.29. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The company presently has a consensus rating of "Buy" and a consensus price target of $25.29.

Shares of Cadence Bancorp (NYSE CADE) opened at 20.65 on Tuesday. The company had a trading volume of 74,904 shares. The firm has a 50 day moving average of $21.92 and a 200 day moving average of $22.20. Triumph Bancorp has a 12-month low of $17.52 and a 12-month high of $29.25. The firm has a market capitalization of $1.73 billion and a price-to-earnings ratio of 17.57.

Cadence Bancorp (NYSE:CADE) last released its earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.32 by $0.03. The business had revenue of $105.37 million during the quarter, compared to analysts' expectations of $103.21 million.

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Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Cadence Bancorp during the second quarter worth about $198,000. New York State Common Retirement Fund purchased a new position in Cadence Bancorp during the second quarter valued at $203,000. Rhumbline Advisers purchased a new position in Cadence Bancorp during the second quarter valued at $207,000. Finally, Principal Financial Group Inc. bought a new position in Triumph Bancorp during the second quarter worth $218,000.

According to Zacks, "Triumph Bancorp Inc.is a financial holding company with a diversified line of community banking, commercial finance and asset management activities". It serves its local communities through its two wholly owned bank subsidiaries, Triumph Savings Bank, SSB and Triumph Community Bank, N.A. These operations include a full suite of lending and depository products and services focused on meeting the needs of its customers in its community banking markets. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate.

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