In a report released today, Ken Zerbe from Morgan Stanley maintained a Hold rating on Cadence Bancorporation (CADE), with a price target of $21.00. The company’s shares closed last Wednesday at $22.00.
According to TipRanks.com, Zerbe is a 4-star analyst with an average return of 16.7% and a 59.6% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cadence Bancorporation with a $22.67 average price target.
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Based on Cadence Bancorporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $186 million and net profit of $49.32 million. In comparison, last year the company earned revenue of $196 million and had a net profit of $43.99 million.
Based on the recent corporate insider activity of 58 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. The Banking segment offers deposit products and lending services through its commercial banking, retail banking and private banking business lines. The Financial Services segment includes set of investment, retirement, estate, college and business succession planning, retail brokerage, personal and institutional trust services and insurance services. The Corporate Segment consists of parent-only activities, including debt and capital raising, and intercompany eliminations. The company was founded in 2009 and is headquartered in Houston, TX.
