Cardinal Financial Corp. (CFNL) Shares Down 2.5%
Cardinal Financial Corp. (NASDAQ:CFNL)’s share price traded down 2.5% during mid-day trading on Thursday . The stock traded as low as $25.64 and last traded at $26.54, with a volume of 834,025 shares changing hands. The stock had previously closed at $27.23.
Separately, Zacks Investment Research raised shares of Cardinal Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Cardinal Financial Corp. currently has a consensus rating of “Hold” and a consensus price target of $22.60.
The company has a market cap of $860.49 million and a P/E ratio of 18.66. The firm has a 50-day moving average price of $23.98 and a 200-day moving average price of $21.50.
Cardinal Financial Corp. (NASDAQ:CFNL) last released 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 company earned $0.40 EPS. On average, analysts expect that Cardinal Financial Corp. will post $1.55 EPS for the current year.
The firm also recently disclosed 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 of this dividend is Tuesday, August 2nd. This represents a $0.48 annualized dividend and a dividend yield of 1.81%.
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 transaction, 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 accessible through the SEC website.
Several institutional investors have made changes to their positions in CFNL. Rhumbline Advisers boosted its position 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 in the last quarter. New York State Common Retirement Fund boosted its position 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 valued at $2,036,000 after buying an additional 5,662 shares in the last quarter. Finally, Matarin Capital Management LLC acquired a new position in shares of Cardinal Financial Corp. during the fourth quarter valued at about $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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.