Cardinal Financial Corp. (CFNL) Hits New 1-Year High at $25.87
Shares of Cardinal Financial Corp. (NASDAQ:CFNL) reached a new 52-week high on Tuesday . The company traded as high as $25.87 and last traded at $24.62, with a volume of 421,757 shares. The stock had previously closed at $23.82.
Separately, Zacks Investment Research raised shares of Cardinal Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.60.
The company has a 50-day moving average price of $22.28 and a 200 day moving average price of $20.79. The company has a market cap of $799.02 million and a PE ratio of 17.33.
Cardinal Financial Corp. (NASDAQ:CFNL) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, equities research analysts expect that Cardinal Financial Corp. will post $1.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Thursday, August 4th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, August 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.95%.
In other news, CFO Mark A. Wendel sold 15,000 shares of Cardinal Financial Corp. stock in a transaction that occurred on 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 accessible through this hyperlink.
Other hedge funds recently made changes to their positions in the company. Bank of Montreal Can raised 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 in the last quarter. First Trust Advisors LP increased its position in 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 last quarter. Matarin Capital Management LLC acquired a new position in Cardinal Financial Corp. during the fourth quarter worth about $2,994,000. New York State Common Retirement Fund increased its position in 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 last quarter. Finally, California State Teachers Retirement System increased its position in Cardinal Financial Corp. by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 59,638 shares of the company’s stock worth $1,357,000 after buying an additional 1,100 shares during the last quarter.
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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