Cardinal Financial Corp. (CFNL) Sees Unusually-High Trading Volume
Cardinal Financial Corp. (NASDAQ:CFNL) saw unusually-high trading volume on Friday . Approximately 539,465 shares changed hands during trading, an increase of 116% from the previous session’s volume of 249,302 shares.The stock last traded at $26.34 and had previously closed at $26.51.
CFNL has been the subject of several research reports. Zacks Investment Research cut Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Raymond James Financial Inc. cut Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Cardinal Financial Corp. currently has a consensus rating of “Hold” and a consensus target price of $22.60.
The company has a market capitalization of $855.94 million and a P/E ratio of 18.56. The stock’s 50 day moving average is $24.26 and its 200 day moving average is $21.59.
Cardinal Financial Corp. (NASDAQ:CFNL) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. During the same period in the previous year, the company posted $0.40 EPS. On average, equities analysts anticipate that Cardinal Financial Corp. will post $1.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Thursday, August 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, August 2nd.
In other Cardinal Financial Corp. news, CFO Mark A. Wendel sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $21.10, for a total transaction 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 $686,467.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of large investors have recently bought and sold shares of CFNL. Matarin Capital Management LLC purchased a new stake in Cardinal Financial Corp. during the fourth quarter worth about $2,994,000. New York State Common Retirement Fund increased 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 valued at $2,036,000 after buying an additional 5,662 shares during the last quarter. Finally, Rhumbline Advisers increased 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.
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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