Russell Investments Group Ltd. reduced its position in Cardinal Financial Co. (NASDAQ:CFNL) by 15.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,790 shares of the bank’s stock after selling 17,300 shares during the period. Russell Investments Group Ltd. owned about 0.28% of Cardinal Financial worth $2,808,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Cardinal Financial by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 3,650 shares of the bank’s stock worth $109,000 after buying an additional 90 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Cardinal Financial by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the bank’s stock worth $404,000 after buying an additional 300 shares during the period. Public Sector Pension Investment Board raised its position in shares of Cardinal Financial by 5.4% in the fourth quarter. Public Sector Pension Investment Board now owns 23,391 shares of the bank’s stock worth $767,000 after buying an additional 1,200 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Cardinal Financial by 7.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,770 shares of the bank’s stock worth $583,000 after buying an additional 1,210 shares during the period. Finally, Creative Planning raised its position in shares of Cardinal Financial by 50.2% in the first quarter. Creative Planning now owns 3,887 shares of the bank’s stock worth $116,000 after buying an additional 1,299 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.
Cardinal Financial Co. (NASDAQ CFNL) opened at 29.04 on Monday. Cardinal Financial Co. has a 12 month low of $20.37 and a 12 month high of $34.75. The firm has a 50-day moving average price of $29.54 and a 200-day moving average price of $30.10.
Cardinal Financial (NASDAQ:CFNL) last issued 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 during the quarter, compared to analyst estimates of $48.46 million. Cardinal Financial had a return on equity of 10.86% and a net margin of 27.09%. During the same period in the prior year, the business posted $0.39 EPS. Equities analysts anticipate 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 target price on shares of Cardinal Financial in a research report on Monday, April 10th.
In other Cardinal Financial news, Director William G. Buck sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $28.11, for a total value of $281,100.00. Following the completion of the sale, the director now owns 193,605 shares of the company’s stock, valued at $5,442,236.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Alice P. Frazier sold 91,333 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $27.90, for a total value of $2,548,190.70. Following the completion of the sale, the chief operating officer now directly owns 37,676 shares of the company’s stock, valued at approximately $1,051,160.40. The disclosure for this sale can be found here. In the last three months, insiders sold 152,483 shares of company stock valued at $4,262,438. Corporate insiders own 6.23% of the company’s stock.
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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