California State Teachers Retirement System reduced its position in shares of Cardinal Financial Corp. (NASDAQ:CFNL) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,909 shares of the company’s stock after selling 2,185 shares during the period. California State Teachers Retirement System owned approximately 0.20% of Cardinal Financial Corp. worth $1,446,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position 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. Louisiana State Employees Retirement System increased its position 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. Arizona State Retirement System increased its position in Cardinal Financial Corp. by 3.1% in the first quarter. Arizona State Retirement System now owns 16,579 shares of the company’s stock worth $337,000 after buying an additional 500 shares during the period. Glenmede Trust Co. NA increased its position in Cardinal Financial Corp. by 102.4% in the first quarter. Glenmede Trust Co. NA now owns 20,443 shares of the company’s stock worth $415,000 after buying an additional 10,343 shares during the period. Finally, Spark Investment Management LLC bought a new position in Cardinal Financial Corp. during the first quarter worth approximately $748,000. 80.98% of the stock is currently owned by institutional investors.

Cardinal Financial Corp. (NASDAQ:CFNL) traded up 0.55% during mid-day trading on Wednesday, hitting $25.80. 162,922 shares of the stock traded hands. Cardinal Financial Corp. has a 1-year low of $17.51 and a 1-year high of $28.16. The stock has a 50-day moving average of $26.09 and a 200 day moving average of $22.73. The firm has a market cap of $837.44 million, a price-to-earnings ratio of 18.16 and a beta of 1.19.

Cardinal Financial Corp. (NASDAQ:CFNL) last posted its earnings results on Wednesday, July 20th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.40 EPS. On average, equities analysts expect that Cardinal Financial Corp. will post $1.55 EPS for the current year.

CFNL has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Cardinal Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research report on Friday, July 22nd. Keefe, Bruyette & Woods cut shares of Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $24.00 to $27.00 in a research note on Monday, August 22nd. Finally, Raymond James Financial Inc. cut shares of Cardinal Financial Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, August 19th. Five analysts have rated the stock with a hold rating, Cardinal Financial Corp. has an average rating of “Hold” and an average price target of $23.40.

In related news, CFO Mark A. Wendel sold 15,000 shares of Cardinal Financial Corp. 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 sale, the chief financial officer now owns 32,534 shares in the company, valued at $686,467.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher W. Bergstrom sold 80,993 shares of Cardinal Financial Corp. stock in a transaction on Monday, August 29th. The stock was sold at an average price of $26.50, for a total transaction of $2,146,314.50. Following the completion of the sale, the insider now owns 97,476 shares of the company’s stock, valued at approximately $2,583,114. The disclosure for this sale can be found here. Insiders own 6.23% of the company’s stock.

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.

5 Day Chart for NASDAQ:CFNL

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