Cardinal Financial Corp. (CFNL) Sees Strong Trading Volume
Cardinal Financial Corp. (NASDAQ:CFNL) saw unusually-high trading volume on Thursday . Approximately 547,823 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 357,937 shares.The stock last traded at $26.38 and had previously closed at $26.27.
A number of equities research analysts have recently commented on CFNL shares. Zacks Investment Research cut shares of Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. Keefe, Bruyette & Woods cut shares of Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating and upped their target price for the company from $24.00 to $27.00 in a report on Monday, August 22nd. Finally, Raymond James Financial Inc. cut shares of Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, August 19th. Five investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of $23.40.
The stock has a 50-day moving average of $24.86 and a 200-day moving average of $21.87. The stock has a market capitalization of $854.00 million and a PE ratio of 18.52.
Cardinal Financial Corp. (NASDAQ:CFNL) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. During the same quarter last year, the business earned $0.40 EPS. Equities analysts predict that Cardinal Financial Corp. will post $1.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Thursday, August 4th were issued 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 was Tuesday, August 2nd.
In related news, CFO Mark A. Wendel sold 15,000 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 32,534 shares of the company’s stock, valued at approximately $686,467.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
A hedge fund recently raised its stake in Cardinal Financial Corp. stock. New York State Common Retirement Fund boosted its position in shares of Cardinal Financial Corp. (NASDAQ:CFNL) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,479 shares of the company’s stock after buying an additional 5,662 shares during the period. New York State Common Retirement Fund owned 0.28% of Cardinal Financial Corp. worth $2,036,000 as of its most recent filing with the SEC.
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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