Cadence Bancorp. (NYSE:CADE) broke out on 27 August at 21.26 and confirmed on 31 August at 21.51. Thus, garnering an LTN Cash Pile Buy signal with a 33/share 1 yr price target.
Wednesday Raymond James upgraded the stock to a Strong Buy rating from Outperform and has a 26 price target. That compares with a 22.50 consensus target and Tuesday’s close at 21.51.
All of our Key technical indicators have turned Very Bullish, the Key resistance is 20.55 and the Key resistance is at 23.75.
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association that provides banking and wealth management services to businesses, high net worth individuals, business owners, and retail customers.
It operates through Banking and Financial Services segments. The company accepts checking, savings, money market, time, and other deposit accounts.
Its loan products include commercial and industrial loans; commercial and residential real estate loans; other consumer loans, such as personal, family and household purposes, automobiles, and boat loans; and shared national credits.
The company also offers debit and credit cards; wealth management and other fiduciary, and private banking services; employee health and liability, and workers’ compensation insurance products and services; and treasury, payroll, human resources, payroll cards, treasury management, merchant, employee and payroll benefits, automated clearing house, lock-box, remote deposit capture, foreign exchange, and other treasury services, as well as online, mobile, and telephone banking services.
As of 31 December 2020, CADE operated 98 branch offices in Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas.
The company also serves through ATMs and ITMs.
Cadence Bancorporation was founded in Y 1885 and is HQ’d in Houston, Texas.
Have a prosperous day, Keep the Faith!