Cadence Bancorp (CADE) Given Consensus Recommendation of "Buy" by Analysts

13 Août, 2017, 10:21 | Author: Claudine Rigal

SunTrust Banks, Inc. assumed coverage on Cadence Bancorp in a research note on Monday, May 8th. (NASDAQ:TBK) from a hold rating to a buy rating in a report issued on Tuesday, July 11th. The firm now has $28.00 price target on the financial services provider's stock.

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.

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Triumph Bancorp from a c rating to a b rating in a report on Wednesday, May 17th. (The) started coverage on shares of Cadence Bancorp in a research report on Monday, May 8th. They set an "overweight" rating and a $26.00 target price on the stock. They issued a "neutral" rating and a $24.00 target price on the stock. They set a "hold" rating and a $25.00 price objective on the stock. Finally, FBR & Co reiterated an outperform rating and set a $30.00 price target on shares of Triumph Bancorp in a report on Friday, March 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. The stock has an average rating of "Buy" and a consensus price target of $25.29.

Shares of Triumph Bancorp (NASDAQ TBK) traded down 0.54% during trading on Tuesday, reaching $27.40. 88,430 shares of the company's stock were exchanged. The firm's 50-day moving average is $21.92 and its 200 day moving average is $22.20. The firm has a market cap of $1.70 billion and a P/E ratio of 17.349. Cadence Bancorp has a 12 month low of $16.90 and a 12 month high of $23.71.

Cadence Bancorp (NYSE:CADE) last announced 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 company had revenue of $105.37 million for the quarter, compared to analyst estimates of $103.21 million. Triumph Bancorp had a net margin of 15.93% and a return on equity of 7.85%.

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Several equities analysts have commented on the stock.

WARNING: This piece was originally published by BNB Daily and is owned by of BNB Daily. If you are viewing this piece on another publication, it was stolen and republished in violation of worldwide copyright and trademark law. The correct version of this piece can be read at https://www.baseball-news-blog.com/2017/08/12/triumph-bancorp-inc-tbk-stock-rating-upgraded-by-zacks-investment-research-updated-updated-updated.html.

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Cadence Bancorp during the second quarter valued at $198,000. Institutional investors own 0.46% of the company's stock. Nine Chapters Capital Management LLC bought a new position in Triumph Bancorp during the first quarter worth $201,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Cadence Bancorp during the second quarter valued at approximately $6,602,000. Finally, Principal Financial Group Inc. bought a new position in Triumph Bancorp during the second quarter worth $218,000.

Triumph Bancorp, Inc is a financial holding company. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate.

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