Cardinal Financial Corp. (CFNL) Sees Large Volume Increase
Cardinal Financial Corp. (NASDAQ:CFNL) saw strong trading volume on Thursday . 547,823 shares traded hands during 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.
Several research analysts recently issued reports on the stock. 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. Keefe, Bruyette & Woods cut shares of Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $24.00 to $27.00 in a report on Monday. Finally, Zacks Investment Research cut shares of Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Five analysts have rated the stock with a hold rating, Cardinal Financial Corp. currently has an average rating of “Hold” and a consensus price target of $23.40.
The company’s 50 day moving average is $24.73 and its 200-day moving average is $21.81. The stock has a market cap of $853.35 million and a P/E ratio of 18.50.
Cardinal Financial Corp. (NASDAQ:CFNL) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. During the same quarter last year, the firm posted $0.40 EPS. Equities research analysts expect that Cardinal Financial Corp. will post $1.55 EPS 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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.83%. The ex-dividend date was Tuesday, August 2nd.
In other news, CFO Mark A. Wendel sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $21.10, for a total value of $316,500.00. Following the completion of 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 available at this link.
Several hedge funds and institutional investors recently modified their holdings of CFNL. Rhumbline Advisers boosted 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 last quarter. New York State Common Retirement Fund boosted 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 last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Cardinal Financial Corp. by 3.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 108,420 shares of the company’s stock valued at $2,467,000 after buying an additional 3,565 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new position in shares of Cardinal Financial Corp. during the fourth quarter valued at about $2,994,000.
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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