Creative Planning boosted its stake in shares of Cardinal Financial Co. (NASDAQ:CFNL) by 50.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,887 shares of the bank’s stock after buying an additional 1,299 shares during the period. Creative Planning’s holdings in Cardinal Financial were worth $116,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of CFNL. Ancora Advisors LLC purchased a new position in Cardinal Financial during the fourth quarter valued at $125,000. Pitcairn Co. bought a new stake in shares of Cardinal Financial during the fourth quarter valued at approximately $218,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Cardinal Financial by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,190 shares of the bank’s stock valued at $188,000 after buying an additional 110 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Cardinal Financial during the third quarter valued at approximately $237,000. Finally, Princeton Alpha Management LP bought a new stake in shares of Cardinal Financial during the third quarter valued at approximately $252,000. 75.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Cardinal Financial Co. (NASDAQ:CFNL) remained flat at $29.04 during midday trading on Monday. Cardinal Financial Co. has a 52-week low of $20.37 and a 52-week high of $34.75. The firm’s 50 day moving average is $29.54 and its 200-day moving average is $30.10.
Cardinal Financial (NASDAQ:CFNL) last posted its quarterly earnings results on Tuesday, April 11th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.06. The business had revenue of $45.68 million for the quarter, compared to analyst estimates of $48.46 million. Cardinal Financial had a net margin of 27.09% and a return on equity of 10.86%. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities analysts forecast that Cardinal Financial Co. will post $1.65 earnings per share for the current year.
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Separately, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $31.00 price target on shares of Cardinal Financial in a report on Monday, April 10th.
In other Cardinal Financial news, Director B G. Beck sold 3,850 shares of the business’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $28.47, for a total value of $109,609.50. Following the transaction, the director now owns 138,144 shares in the company, valued at $3,932,959.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alice P. Frazier sold 91,333 shares of the business’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $27.90, for a total value of $2,548,190.70. Following the completion of the transaction, the chief operating officer now owns 37,676 shares in the company, valued at approximately $1,051,160.40. The disclosure for this sale can be found here. Insiders have sold 152,483 shares of company stock worth $4,262,438 over the last three months. 6.23% of the stock is owned by insiders.
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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