Cascade Financial tumbles to new 52-week low on analyst downgrade
Shares of Cascade Financial Corp. (Nasdaq:CASB) plunged 18% to a new 52-week low today after an analyst firm downgraded the company’s stock.
The Everett, Wash.-based holding company was downgraded by DA Davidson, which had initiated coverage of the stock in April 2004 with a “neutral” rating.
By mid-day Cascade is at $5.55, down $1.23 from Tuesday’s close, after trading as low as $5.29 earlier in the day. Previously, the stock had ranged between $5.52 and $16.75 during the past year.
For detailed price information and news stories on Cascade Financial, click CASB.
