Cardinal Financial Corp. (CFNL) Reaches New 12-Month High at $28.16
Cardinal Financial Corp. (NASDAQ:CFNL) hit a new 52-week high on Wednesday . The stock traded as high as $28.16 and last traded at $27.40, with a volume of 465,380 shares changing hands. The stock had previously closed at $25.78.
Separately, Zacks Investment Research downgraded shares of Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Cardinal Financial Corp. has an average rating of “Hold” and a consensus price target of $22.60.
The firm has a market capitalization of $888.73 million and a PE ratio of 19.27. The stock’s 50 day moving average price is $23.79 and its 200 day moving average price is $21.46.
Cardinal Financial Corp. (NASDAQ:CFNL) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. During the same quarter in the previous year, the firm posted $0.40 earnings per share. On average, analysts forecast that Cardinal Financial Corp. will post $1.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Thursday, August 4th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $0.48 annualized dividend and a dividend yield of 1.86%.
In other news, CFO Mark A. Wendel sold 15,000 shares of the company’s 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 owns 32,534 shares of the company’s stock, valued at approximately $686,467.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Several large investors have made changes to their positions in CFNL. 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 valued at $1,138,000 after buying an additional 1,710 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of 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 valued at $1,357,000 after buying an additional 1,100 shares during the last quarter. New York State Common Retirement Fund boosted its stake 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, Matarin Capital Management LLC purchased a new stake in Cardinal Financial Corp. during the fourth quarter worth approximately $2,994,000.
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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