Alps Advisors Inc. Has $440,000 Stake in Cardinal Financial Corp. (CFNL)
Alps Advisors Inc. lowered its position in shares of Cardinal Financial Corp. (NASDAQ:CFNL) by 6.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 20,037 shares of the company’s stock after selling 1,472 shares during the period. Alps Advisors Inc.’s holdings in Cardinal Financial Corp. were worth $440,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake in Cardinal Financial Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,400 shares of the company’s stock worth $316,000 after buying an additional 100 shares during the period. Aristotle Capital Boston LLC boosted its stake in Cardinal Financial Corp. by 1.5% in the first quarter. Aristotle Capital Boston LLC now owns 96,214 shares of the company’s stock worth $1,958,000 after buying an additional 1,446 shares during the period. Eagle Boston Investment Management Inc. boosted its stake in Cardinal Financial Corp. by 2.6% in the second quarter. Eagle Boston Investment Management Inc. now owns 155,781 shares of the company’s stock worth $3,417,000 after buying an additional 3,980 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Cardinal Financial Corp. by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 939,163 shares of the company’s stock worth $19,112,000 after buying an additional 4,386 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Cardinal Financial Corp. by 100.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,090 shares of the company’s stock worth $221,000 after buying an additional 5,053 shares during the period. 80.98% of the stock is currently owned by institutional investors.
Shares of Cardinal Financial Corp. (NASDAQ:CFNL) traded up 0.27% during midday trading on Thursday, reaching $26.37. The company had a trading volume of 126,130 shares. The firm’s 50 day moving average price is $26.16 and its 200-day moving average price is $23.21. The company has a market capitalization of $855.94 million, a P/E ratio of 18.56 and a beta of 1.14. Cardinal Financial Corp. has a 12 month low of $17.51 and a 12 month high of $28.16.
Cardinal Financial Corp. (NASDAQ:CFNL) last posted its 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. Cardinal Financial Corp. had a net margin of 23.29% and a return on equity of 11.27%. During the same period in the previous year, the company earned $0.40 EPS. Analysts anticipate that Cardinal Financial Corp. will post $1.53 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. Keefe, Bruyette & Woods cut Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $24.00 to $27.00 in a report on Monday, August 22nd. Finally, Raymond James Financial Inc. cut Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, August 19th. Five research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $23.40.
In related news, insider Christopher W. Bergstrom sold 80,993 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $26.50, for a total value of $2,146,314.50. Following the sale, the insider now owns 97,476 shares of the company’s stock, valued at $2,583,114. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.23% of the stock is currently owned by corporate insiders.
About Cardinal Financial Corp.
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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