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CADE - Cadence: Down 77% From Peak This Bank Still Looks Like A Value Trap
Cadence Bancorporation Class A
Last summer, with Cadence Bancorporation (CADE) trading around $15, I suggested that readers should be careful with the bank's stock. Shares had already been cut in half, and looked cheap on an earnings basis. But the bank had also announced some significant loan losses. Back in 2019, this was rather rare; in general, it was a great environment for lenders. As I feared, the loan losses weren't a one-quarter issue, and Cadence's stock price went from bad to worse. CADE stock is down another 62% year-to-date.