The stock of Cascade Bancorp (NASDAQ:CACB) hit a new 52-week high and has $7.72 target or 6.00% above today’s $7.28 share price. The 5 months bullish chart indicates low risk for the $562.59M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $7.72 price target is reached, the company will be worth $33.76 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 279,443 shares traded hands. Cascade Bancorp (NASDAQ:CACB) has risen 23.21% since April 22, 2016 and is uptrending. It has outperformed by 17.80% the S&P500.
Analysts await Cascade Bancorp (NASDAQ:CACB) to report earnings on January, 25. They expect $0.09 EPS, up 12.50% or $0.01 from last year’s $0.08 per share. CACB’s profit will be $6.96M for 20.22 P/E if the $0.09 EPS becomes a reality. After $0.06 actual EPS reported by Cascade Bancorp for the previous quarter, Wall Street now forecasts 50.00% EPS growth.
According to Zacks Investment Research, “Cascade Bancorp is a financial holding company.”
Insitutional Activity: The institutional sentiment increased to 1.69 in Q2 2016. Its up 0.72, from 0.97 in 2016Q1. The ratio is positive, as 14 funds sold all Cascade Bancorp shares owned while 25 reduced positions. 7 funds bought stakes while 31 increased positions. They now own 58.39 million shares or 0.62% more from 58.03 million shares in 2016Q1.
Vanguard Gru has 1.05M shares for 0% of their US portfolio. Northern Tru Corporation owns 340,515 shares or 0% of their US portfolio. Moreover, Sg Americas Securities Limited Company has 0% invested in Cascade Bancorp (NASDAQ:CACB) for 13,199 shares. Mesirow Financial Investment Mgmt last reported 59,722 shares in the company. Commercial Bank Of America Corporation De accumulated 0% or 362,629 shares. Tower Research Limited Liability Company (Trc), a New York-based fund reported 3,162 shares. Leonard Green Ptnrs Ltd Partnership accumulated 6.94% or 11.47M shares. Bnp Paribas Inv holds 0% or 31,614 shares in its portfolio. Panagora Asset accumulated 293,601 shares or 0.01% of the stock. Renaissance Techs Lc holds 0.01% of its portfolio in Cascade Bancorp (NASDAQ:CACB) for 766,356 shares. Alliancebernstein Lp holds 0% or 374,191 shares in its portfolio. D E Shaw And accumulated 0% or 50,565 shares. Moreover, Citadel Ltd Liability Corporation has 0% invested in Cascade Bancorp (NASDAQ:CACB) for 14,294 shares. Invesco Private Cap holds 13.42% or 11.48 million shares in its portfolio. Schwab Charles Inv Mngmt has 103,063 shares for 0% of their US portfolio.
More news for Cascade Bancorp (NASDAQ:CACB) were recently published by: Prnewswire.com, which released: “Cascade Bancorp Completes Acquisition of Prime Pacific Financial Services” on August 02, 2016. Prnewswire.com‘s article titled: “Cascade Bancorp To Release Third Quarter 2016 Earnings On Wednesday, October …” and published on October 19, 2016 is yet another important article.
CACB Company Profile
Cascade Bancorp, incorporated on March 7, 1990, is a bank holding company. The Firm and its subsidiary, Bank of the Cascades (the Bank), operate in Central, Southern and Northwest Oregon, as well as in the greater Boise/Treasury Valley, Idaho and Seattle Metro areas. The Bank offers a range of commercial and retail banking services to its clients through a network of approximately 40 branches serving communities in Central, Southern and Northwest Oregon, as well as in the greater Boise/Treasure Valley, Idaho and Seattle, Washington areas. The Bank offers commercial real estate loans, real estate construction and development loans, and commercial and industrial loans, as well as consumer installment, line-of-credit, credit card and home equity loans. The Bank originates residential mortgage loans, including approximately 30-year fixed rate loans that are mainly sold on the secondary market. The Bank provides consumer and business deposit services, including checking, money market and time deposit accounts and related payment services, Internet banking, electronic bill payment and remote deposits. In addition, the Bank serves business customer deposit needs with cash management services. The Bank also provides trust and investment related services to its clientele.
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