Cardinal Financial Co. (CFNL) Position Maintained by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky held its stake in Cardinal Financial Co. (NASDAQ:CFNL) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,300 shares of the bank’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cardinal Financial were worth $338,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Cardinal Financial by 54,679.4% in the first quarter. BlackRock Inc. now owns 4,055,316 shares of the bank’s stock worth $121,416,000 after buying an additional 4,047,913 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cardinal Financial by 6.2% in the first quarter. Vanguard Group Inc. now owns 1,705,734 shares of the bank’s stock worth $51,069,000 after buying an additional 100,102 shares during the last quarter. State Street Corp boosted its position in shares of Cardinal Financial by 8.1% in the first quarter. State Street Corp now owns 948,197 shares of the bank’s stock worth $28,391,000 after buying an additional 71,290 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Cardinal Financial by 15.5% in the first quarter. Macquarie Group Ltd. now owns 858,523 shares of the bank’s stock worth $25,704,000 after buying an additional 115,181 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its position in shares of Cardinal Financial by 24.1% in the first quarter. Tributary Capital Management LLC now owns 503,414 shares of the bank’s stock worth $15,072,000 after buying an additional 97,920 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
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Separately, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $31.00 price target on shares of Cardinal Financial in a research note on Monday, April 10th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Cardinal Financial currently has a consensus rating of “Hold” and an average target price of $29.50.
About Cardinal Financial
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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