ClariVest Asset Management LLC raised its stake in shares of Cardinal Financial Corp. (NASDAQ:CFNL) by 8.4% during the second quarter, Holdings Channel reports. The firm owned 256,061 shares of the company’s stock after buying an additional 19,900 shares during the period. ClariVest Asset Management LLC’s holdings in Cardinal Financial Corp. were worth $5,617,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CFNL. Bank of Montreal Can acquired a new position in Cardinal Financial Corp. during the second quarter valued at about $11,483,000. Boston Advisors LLC acquired a new position in Cardinal Financial Corp. during the second quarter valued at about $5,204,000. RMB Capital Management LLC acquired a new position in Cardinal Financial Corp. during the first quarter valued at about $1,044,000. Spark Investment Management LLC acquired a new position in Cardinal Financial Corp. during the first quarter valued at about $748,000. Finally, Stoneridge Investment Partners LLC boosted its position in Cardinal Financial Corp. by 55.5% in the second quarter. Stoneridge Investment Partners LLC now owns 95,328 shares of the company’s stock valued at $2,091,000 after buying an additional 34,028 shares during the period. 80.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cardinal Financial Corp. (NASDAQ:CFNL) traded down 0.64% during midday trading on Friday, reaching $26.20. The company had a trading volume of 55,086 shares. The stock has a market capitalization of $850.43 million, a price-to-earnings ratio of 18.44 and a beta of 1.14. Cardinal Financial Corp. has a 1-year low of $17.51 and a 1-year high of $28.16. The firm’s 50 day moving average price is $26.16 and its 200-day moving average price is $23.21.
Cardinal Financial Corp. (NASDAQ:CFNL) last posted its quarterly earnings data 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. Cardinal Financial Corp. had a return on equity of 11.27% and a net margin of 23.29%. During the same period last year, the business posted $0.40 earnings per share. Equities research analysts expect that Cardinal Financial Corp. will post $1.53 EPS for the current fiscal year.
CFNL has been the topic of several research analyst reports. Raymond James Financial Inc. cut Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, August 19th. Zacks Investment Research cut Cardinal Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Finally, Keefe, Bruyette & Woods cut Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $24.00 to $27.00 in a research note on Monday, August 22nd. Five analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $23.40.
In other news, insider Christopher W. Bergstrom sold 80,993 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $26.50, for a total value of $2,146,314.50. Following the completion of the sale, the insider now directly owns 97,476 shares of the company’s stock, valued at approximately $2,583,114. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.23% of the stock is owned by insiders.
Cardinal Financial Corp. Company Profile
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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