Cardinal Financial Corp. (CFNL) Sees Large Volume Increase
Shares of Cardinal Financial Corp. (NASDAQ:CFNL) saw unusually-high trading volume on Tuesday . Approximately 195,138 shares traded hands during trading, an increase of 81% from the previous session’s volume of 107,906 shares.The stock last traded at $22.60 and had previously closed at $22.36.
CFNL has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Cardinal Financial Corp. from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 28th. Zacks Investment Research downgraded shares of Cardinal Financial Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Cardinal Financial Corp. has an average rating of “Hold” and an average target price of $22.20.
The firm has a market cap of $732.58 million and a price-to-earnings ratio of 16.13. The firm has a 50-day moving average of $22.11 and a 200-day moving average of $20.70.
Cardinal Financial Corp. (NASDAQ:CFNL) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.07. During the same quarter last year, the firm earned $0.30 EPS. Analysts predict that Cardinal Financial Corp. will post $1.46 EPS for the current fiscal year.
In other news, CFO Mark A. Wendel sold 15,000 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $21.10, for a total value of $316,500.00. Following the completion of the sale, the chief financial officer now directly owns 32,534 shares in the company, valued at $686,467.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Several large investors have modified their holdings of CFNL. Matarin Capital Management LLC acquired a new stake in shares of Cardinal Financial Corp. during the fourth quarter worth approximately $2,994,000. Bank of Montreal Can boosted its stake in shares of Cardinal Financial Corp. by 13.5% in the fourth quarter. Bank of Montreal Can now owns 683,835 shares of the company’s stock worth $15,557,000 after buying an additional 81,086 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Cardinal Financial Corp. by 6.8% in the fourth quarter. New York State Common Retirement Fund now owns 89,479 shares of the company’s stock worth $2,036,000 after buying an additional 5,662 shares during the period. Rhumbline Advisers boosted its stake in shares of Cardinal Financial Corp. by 3.5% in the fourth quarter. Rhumbline Advisers now owns 50,015 shares of the company’s stock worth $1,138,000 after buying an additional 1,710 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Cardinal Financial Corp. by 48.0% in the fourth quarter. First Trust Advisors LP now owns 167,385 shares of the company’s stock worth $3,808,000 after buying an additional 54,305 shares during the period.
Cardinal Financial Corporation is a financial holding company. The Company owns Cardinal Bank (the Bank), a Virginia state-chartered community bank. The Bank operates in three business segments: commercial banking, mortgage banking and wealth management services. The commercial banking segment includes both commercial and consumer lending and provides customers such products as commercial loans, real estate loans, and other business financing and consumer loans.
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