Cardinal Financial Corporation (CFNL) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. cut its position in Cardinal Financial Corporation (NASDAQ:CFNL) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 90,229 shares of the company’s stock after selling 6,032 shares during the period. Prudential Financial Inc. owned approximately 0.28% of Cardinal Financial Corporation worth $2,354,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. BlackRock Fund Advisors raised its stake in Cardinal Financial Corporation by 2.5% in the second quarter. BlackRock Fund Advisors now owns 2,108,391 shares of the company’s stock worth $46,258,000 after buying an additional 51,808 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cardinal Financial Corporation by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,679,552 shares of the company’s stock worth $36,848,000 after buying an additional 41,327 shares during the last quarter. Macquarie Group Ltd. raised its stake in Cardinal Financial Corporation by 17.5% in the second quarter. Macquarie Group Ltd. now owns 659,260 shares of the company’s stock worth $14,464,000 after buying an additional 98,106 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Cardinal Financial Corporation by 89.7% in the second quarter. Wedge Capital Management L L P NC now owns 619,857 shares of the company’s stock worth $13,600,000 after buying an additional 293,103 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Cardinal Financial Corporation during the second quarter worth approximately $11,483,000. 75.27% of the stock is owned by institutional investors and hedge funds.
Shares of Cardinal Financial Corporation (NASDAQ:CFNL) opened at 31.56 on Friday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 21.60 and a beta of 0.99. Cardinal Financial Corporation has a one year low of $17.51 and a one year high of $34.75. The company has a 50 day moving average price of $32.75 and a 200 day moving average price of $27.15.
Cardinal Financial Corporation (NASDAQ:CFNL) last posted its earnings results on Wednesday, October 19th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Cardinal Financial Corporation had a return on equity of 11.61% and a net margin of 22.75%. During the same quarter last year, the company earned $0.34 earnings per share. Equities analysts predict that Cardinal Financial Corporation will post $1.54 EPS for the current year.
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CFNL has been the subject of a number of research analyst reports. Zacks Investment Research lowered Cardinal Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, January 2nd. Boenning Scattergood lowered Cardinal Financial Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, November 17th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.60.
In other news, COO Alice P. Frazier sold 25,000 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $33.05, for a total transaction of $826,250.00. Following the completion of the sale, the chief operating officer now owns 45,340 shares in the company, valued at approximately $1,498,487. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher W. Bergstrom sold 50,750 shares of the stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $33.04, for a total value of $1,676,780.00. Following the sale, the insider now owns 33,226 shares of the company’s stock, valued at approximately $1,097,787.04. The disclosure for this sale can be found here. Company insiders own 6.23% of the company’s stock.
About Cardinal Financial Corporation
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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