Keefe Bruyette lifts Cadence Bancorporation [CADE] price estimate. Who else is bullish?

Cadence Bancorporation [NYSE: CADE] closed the trading session at $9.63 on 08/24/20. The day’s price range saw the stock hit a low of $9.00, while the highest price level was $9.64. The company report on July 22, 2020 that Cadence Bancorporation Reports Second Quarter 2020 Financial Results.

Cadence Bancorporation (NYSE: CADE) (“Cadence”) today announced a net loss for the quarter ended June 30, 2020 of ($56.1) million or ($0.45) per share, compared to net income of $48.3 million or $0.37 per share for the quarter ended June 30, 2019, and a net loss of ($399.3) million or ($3.15) per share for the quarter ended March 31, 2020. Adjusted net (loss) income(1), excluding non-routine income and expenses(2) (and the goodwill impairment charge for first quarter 2020), was ($56.9) million or ($0.45) per share for the second quarter of 2020, compared to $51.3 million or $0.40 per share for the quarter ended June 30, 2019 and compared to $12.5 million or $0.10 per share for the quarter ended March 31, 2020.

“The challenge and uncertainty of the second quarter in many ways brought out the best in Cadence and I am proud of how our team operated and served our customers through it all. Our pre-provision results continue to showcase a key strength of our operations, highlighted by our increased net interest income and continued expense management. That noted, clearly the credit backdrop is very challenging, as our portfolio has been meaningfully impacted by the COVID-19 pandemic and related economic shutdown. This quarter, we again spent a great deal of time critically reviewing our portfolios to ensure we are fully reflecting the realities of the environment. While the trajectory of the pandemic and its impact on the economy remain uncertain, we are very confident that our risk management and robust capital position will allow Cadence to exit this crisis in a strong position,” stated Paul B. Murphy, Jr., Chairman and Chief Executive Officer of Cadence Bancorporation.

The stocks have a year to date performance of -46.88 percent and weekly performance of 2.88 percent. The stock has been moved at -37.59 percent over the last six months. The stock has performed 15.47 percent around the most recent 30 days and changed 23.62 percent over the most recent 3-months.

If compared to the average trading volume of 1.83M shares, CADE reached to a volume of 1341870 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cadence Bancorporation [CADE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CADE shares is $10.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CADE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for Cadence Bancorporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 19, 2020. While these analysts kept the previous recommendation, Truist dropped their target price from $9 to $14. The new note on the price target was released on August 14, 2020, representing the official price target for Cadence Bancorporation stock. Previously, the target price had yet another raise to $12, while Raymond James analysts kept a Strong Buy rating on CADE stock. On October 24, 2019, analysts decreased their price target for CADE shares from 20 to 16.50.

The Average True Range (ATR) for Cadence Bancorporation is set at 0.53, with the Price to Sales ratio for CADE stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 15.28. Price to Free Cash Flow for CADE in the course of the last twelve months was 2.26.

CADE stock trade performance evaluation

Cadence Bancorporation [CADE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.88. With this latest performance, CADE shares gained by 15.47% in over the last four-week period, additionally sinking by -37.59% over the last 6 months – not to mention a drop of -36.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CADE stock in for the last two-week period is set at 59.11, with the RSI for the last a single of trading hit 61.94, and the three-weeks RSI is set at 57.49 for Cadence Bancorporation [CADE]. The present Moving Average for the last 50 days of trading for this stock 8.54, while it was recorded at 9.22 for the last single week of trading, and 11.24 for the last 200 days.

Cadence Bancorporation [CADE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cadence Bancorporation [CADE] shares currently have an operating margin of +29.03. Cadence Bancorporation’s Net Margin is presently recorded at +21.07.

Return on Total Capital for CADE is now 11.51, given the latest momentum, and Return on Invested Capital for the company is 8.37. Return on Equity for this stock inclined to 10.32, with Return on Assets sitting at 1.31. When it comes to the capital structure of this company, Cadence Bancorporation [CADE] has a Total Debt to Total Equity ratio set at 18.27. Additionally, CADE Total Debt to Total Capital is recorded at 15.45, with Total Debt to Total Assets ending up at 2.51. Long-Term Debt to Equity for the company is recorded at 17.82, with the Long-Term Debt to Total Capital now at 15.06.

Reflecting on the efficiency of the workforce at the company, Cadence Bancorporation [CADE] managed to generate an average of $108,856 per employee.

Earnings per share (EPS) analysis for Cadence Bancorporation [CADE] stock

With the latest financial reports released by the company, Cadence Bancorporation posted 0.34/share EPS, while the average EPS was predicted by analysts to be reported at 0.49/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -30.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CADE.

Cadence Bancorporation [CADE]: Insider Ownership positions

There are presently around $1,094 million, or 92.40% of CADE stock, in the hands of institutional investors. The top three institutional holders of CADE stocks are: BLACKROCK INC. with ownership of 18,147,901, which is approximately -2.461% of the company’s market cap and around 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 12,602,973 shares of the stock with an approximate value of $121.37 million in CADE stocks shares; and SHAPIRO CAPITAL MANAGEMENT LLC, currently with $79.33 million in CADE stock with ownership of nearly 4.392% of the company’s market capitalization.

Positions in Cadence Bancorporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 129 institutional holders increased their position in Cadence Bancorporation [NYSE:CADE] by around 16,072,635 shares. Additionally, 105 investors decreased positions by around 12,451,497 shares, while 28 investors held positions by with 85,114,925 shares. The mentioned changes placed institutional holdings at 113,639,057 shares, according to the latest SEC report filing. CADE stock had 44 new institutional investments in for a total of 4,122,617 shares, while 42 institutional investors sold positions of 3,288,712 shares during the same period.

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