UPDATE: Raymond James Downgrades Cadence BanCorp (CADE) to Market Perform
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(Updated - October 8, 2019 7:20 AM EDT)
(updated to add analyst comment)
Raymond James analyst Michael Rose downgraded Cadence BanCorp (NYSE: CADE) from Outperform to Market Perform.
The analyst comments " We are downgrading shares of CADE from Outperform to Market Perform given its significant outperformance over the past month (+12.4% vs. S&P 500, +7.9% vs. BKX and +9.1% vs. BANK) and our expectations for decelerating loan growth and continued credit migration within its energy and restaurant franchise segments near-term."
Shares of Cadence BanCorp closed at $16.88 yesterday.
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