Cardinal Financial Corp. (CFNL) Hits New 52-Week High at $28.16
Cardinal Financial Corp. (NASDAQ:CFNL) hit a new 52-week high during mid-day trading on Wednesday . The company 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 lowered shares of Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.60.
The firm has a market cap of $860.49 million and a PE ratio of 18.66. The firm has a 50 day moving average of $24.14 and a 200-day moving average of $21.53.
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 the Thomson Reuters’ consensus estimate of $0.36 by $0.06. During the same quarter last year, the business posted $0.40 EPS. Equities research analysts expect that Cardinal Financial Corp. will post $1.55 EPS 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 paid a dividend of $0.12 per share. 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 the stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $21.10, for a total transaction of $316,500.00. Following the transaction, the chief financial officer now owns 32,534 shares in the company, valued at approximately $686,467.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Other hedge funds and institutional investors have made changes to their positions in the company. Matarin Capital Management LLC acquired a new position in shares of Cardinal Financial Corp. during the fourth quarter valued at approximately $2,994,000. New York State Common Retirement Fund raised 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 during the period. Finally, Rhumbline Advisers raised 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 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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