Today: 16,700 Shares of Cascade Bancorp (CACB) are sold by Ameriprise Financial Inc.

Today: 16,700 Shares of Cascade Bancorp (CACB) are sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its position in shares of Cascade Bancorp (NASDAQ:CACB) by 2.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 819,133 shares of the financial services provider’s stock after selling 16,700 shares during the period. Ameriprise Financial Inc. owned 1.14% of Cascade Bancorp worth $4,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Cascade Bancorp by 1.7% in the first quarter. Geode Capital Management LLC now owns 204,599 shares of the financial services provider’s stock worth $1,168,000 after buying an additional 3,444 shares during the last quarter. Consector Capital LP acquired a new position in shares of Cascade Bancorp during the first quarter worth about $758,000. Boothbay Fund Management LLC acquired a new position in shares of Cascade Bancorp during the first quarter worth about $105,000. Forward Management LLC acquired a new position in shares of Cascade Bancorp during the first quarter worth about $343,000. Finally, California State Teachers Retirement System boosted its position in shares of Cascade Bancorp by 0.6% in the second quarter. California State Teachers Retirement System now owns 65,847 shares of the financial services provider’s stock worth $365,000 after buying an additional 372 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cascade Bancorp (NASDAQ:CACB) traded up 0.83% during trading on Monday, hitting $6.11. 3,621 shares of the stock were exchanged. Cascade Bancorp has a 52 week low of $5.01 and a 52 week high of $6.27. The stock has a market cap of $439.88 million, a P/E ratio of 25.46 and a beta of 0.35. The firm’s 50 day moving average price is $6.08 and its 200-day moving average price is $5.79.

Cascade Bancorp (NASDAQ:CACB) last issued its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Cascade Bancorp had a net margin of 15.58% and a return on equity of 5.15%. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, analysts predict that Cascade Bancorp will post $0.24 EPS for the current year.

Separately, Zacks Investment Research raised shares of Cascade Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 4th.

Cascade Bancorp Company Profile

Cascade Bancorp is a bank holding company. The Company 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 customers 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.

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