OMERS ADMINISTRATION Corp boosted its stake in shares of Cardinal Financial Co. (NASDAQ:CFNL) by 20.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,009 shares of the bank’s stock after buying an additional 35,749 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Cardinal Financial were worth $6,318,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its position in Cardinal Financial by 8.1% in the third quarter. BlackRock Fund Advisors now owns 2,278,522 shares of the bank’s stock valued at $59,447,000 after buying an additional 170,131 shares in the last quarter. CNH Partners LLC increased its position in Cardinal Financial by 100.2% in the fourth quarter. CNH Partners LLC now owns 1,506,999 shares of the bank’s stock valued at $49,414,000 after buying an additional 754,216 shares in the last quarter. Morgan Stanley increased its position in Cardinal Financial by 8,246.9% in the third quarter. Morgan Stanley now owns 1,159,301 shares of the bank’s stock valued at $30,245,000 after buying an additional 1,145,412 shares in the last quarter. State Street Corp increased its position in Cardinal Financial by 18.2% in the fourth quarter. State Street Corp now owns 876,907 shares of the bank’s stock valued at $28,753,000 after buying an additional 135,160 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in Cardinal Financial by 7.6% in the fourth quarter. Macquarie Group Ltd. now owns 743,342 shares of the bank’s stock valued at $24,374,000 after buying an additional 52,228 shares in the last quarter. 75.24% of the stock is owned by institutional investors.
Shares of Cardinal Financial Co. (NASDAQ CFNL) traded down 0.24% during mid-day trading on Monday, reaching $29.04. 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 announced its quarterly earnings results on Tuesday, April 11th. The bank reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.06. The company had revenue of $45.68 million during the quarter, compared to analysts’ expectations of $48.46 million. Cardinal Financial had a return on equity of 12.11% and a net margin of 22.75%. During the same period last year, the firm earned $0.39 earnings per share. Equities analysts anticipate that Cardinal Financial Co. will post $1.65 EPS for the current fiscal year.
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Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $31.00 price objective on shares of Cardinal Financial in a research note on Monday, April 10th.
In other Cardinal Financial news, insider Christopher W. Bergstrom sold 27,296 shares of Cardinal Financial stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $27.58, for a total value of $752,823.68. Following the transaction, the insider now directly owns 10,305 shares of the company’s stock, valued at approximately $284,211.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard H. Clineburg sold 20,004 shares of Cardinal Financial stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $28.53, for a total value of $570,714.12. Following the completion of the transaction, the insider now directly owns 347,760 shares in the company, valued at $9,921,592.80. The disclosure for this sale can be found here. Insiders sold a total of 152,483 shares of company stock worth $4,262,438 over the last ninety days. 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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