Stephens Remains a Buy on Cadence Bancorporation (CADE)


Stephens analyst Matt Olney maintained a Buy rating on Cadence Bancorporation (CADE) today and set a price target of $26. The company’s shares opened today at $22.65.

Olney said:

“We believe CADE trades at a discount valuation due to investor uncertainty around its credit outlook. The upcoming investor day (May 2) is expected to address such credit concerns while also demonstrating the depth and quality of its bankers. We maintain our Overweight rating and are increasing our price target to $26 (was $24) which represents an 11x multiple on our 2020 EPS forecast of $2.34.”

According to TipRanks.com, Olney is a 3-star analyst with an average return of 1.6% and a 52.5% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.

Cadence Bancorporation has an analyst consensus of Strong Buy, with a price target consensus of $24.

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The company has a one-year high of $31.44 and a one-year low of $16.13. Currently, Cadence Bancorporation has an average volume of 1.38M.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CADE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cadence Bancorp is a bank holding company, which engages in the provision of corporations, middle-market companies, small businesses, and consumers with banking and financial solutions. It operates through the following segments: Banking, Financial Services, and Corporate.

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