Cardinal Financial Corp. (CFNL) Sees Large Volume Increase
Cardinal Financial Corp. (NASDAQ:CFNL) saw strong trading volume on Friday . 539,465 shares traded 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.
Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Raymond James Financial Inc. downgraded shares of Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.60.
The stock has a market capitalization of $855.94 million and a price-to-earnings ratio of 18.56. The company has a 50 day moving average price of $24.14 and a 200 day moving average price of $21.53.
Cardinal Financial Corp. (NASDAQ:CFNL) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. During the same quarter last year, the company posted $0.40 EPS. Analysts predict that Cardinal Financial Corp. will post $1.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Thursday, August 4th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, August 2nd.
In other news, CFO Mark A. Wendel sold 15,000 shares of the business’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 transaction, the chief financial officer now owns 32,534 shares of the company’s stock, valued at $686,467.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Several institutional investors have recently made changes to their positions in CFNL. Matarin Capital Management LLC purchased a new position in shares of Cardinal Financial Corp. during the fourth quarter valued at about $2,994,000. New York State Common Retirement Fund increased 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 increased 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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