Notable Runner: Could Cardinal Financial Corporation Lose its Strength? The Stock Reaches 52-Week High

Notable Runner: Could Cardinal Financial Corporation Lose its Strength? The Stock Reaches 52 Week High

The stock of Cardinal Financial Corporation (NASDAQ:CFNL) hit a new 52-week high and has $40.90 target or 45.00% above today’s $28.21 share price. The 9 months bullish chart indicates low risk for the $925.10 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $40.90 price target is reached, the company will be worth $416.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 6.13% or $1.63 during the last trading session, hitting $28.21. About 165,493 shares traded hands or 43.23% up from the average. Cardinal Financial Corporation (NASDAQ:CFNL) has risen 37.93% since April 7, 2016 and is uptrending. It has outperformed by 33.15% the S&P500.

Cardinal Financial Corporation (NASDAQ:CFNL) Ratings Coverage

Out of 4 analysts covering Cardinal Financial Corporation (NASDAQ:CFNL), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. Cardinal Financial Corporation has been the topic of 6 analyst reports since July 17, 2015 according to StockzIntelligence Inc. The rating was upgraded by Keefe Bruyette & Woods to “Outperform” on Friday, January 22. The stock of Cardinal Financial Corporation (NASDAQ:CFNL) has “Market Perform” rating given on Friday, August 19 by Raymond James. The firm has “Mkt Perform” rating given on Monday, August 22 by Keefe Bruyette & Woods.

According to Zacks Investment Research, “Cardinal Financial Corporation is a bank holding company. Through its bank subsidiaries, Cardinal Financial Corporation pursues a community banking strategy by offering a broad range of banking products to individuals, professionals and small to medium-sized businesses, with an emphasis on personalized service and local decision-making authority.”

Insitutional Activity: The institutional sentiment increased to 1.29 in Q2 2016. Its up 0.02, from 1.27 in 2016Q1. The ratio is positive, as 11 funds sold all Cardinal Financial Corporation shares owned while 40 reduced positions. 11 funds bought stakes while 55 increased positions. They now own 23.51 million shares or 5.07% less from 24.77 million shares in 2016Q1.
Prudential last reported 0% of its portfolio in the stock. Tributary Cap Mgmt Limited Liability Co last reported 542,678 shares in the company. Ridgeworth Capital Mngmt Limited Liability, a Georgia-based fund reported 26,691 shares. Vanguard Grp Inc holds 0% of its portfolio in Cardinal Financial Corporation (NASDAQ:CFNL) for 1.56M shares. Blackrock Gru Ltd owns 37,450 shares or 0% of their US portfolio. Lord Abbett & Company Ltd holds 0.01% or 125,277 shares in its portfolio. Stoneridge Investment Prtnrs Ltd Liability Company has 0.31% invested in the company for 95,328 shares. California State Teachers Retirement Sys owns 65,909 shares or 0% of their US portfolio. Tower Research Lc (Trc) last reported 0% of its portfolio in the stock. Moreover, Pinebridge Invs Limited Partnership has 0% invested in Cardinal Financial Corporation (NASDAQ:CFNL) for 4,111 shares. Geode Mgmt Lc has 247,986 shares for 0% of their US portfolio. Parametric Portfolio Associate Lc holds 40,895 shares or 0% of its portfolio. Jupiter Asset has invested 0.25% of its portfolio in Cardinal Financial Corporation (NASDAQ:CFNL). Schwab Charles Invest Mgmt holds 113,204 shares or 0% of its portfolio. The New York-based Bnp Paribas Arbitrage has invested 0% in Cardinal Financial Corporation (NASDAQ:CFNL).

Insider Transactions: Since June 29, 2016, the stock had 0 insider purchases, and 3 sales for $8.38 million net activity. $5.92M worth of Cardinal Financial Corporation (NASDAQ:CFNL) shares were sold by CLINEBURG BERNARD H. Shares for $316,521 were sold by Wendel Mark A on Wednesday, June 29. BERGSTROM CHRISTOPHER W sold 80,993 shares worth $2.15 million.

More recent Cardinal Financial Corporation (NASDAQ:CFNL) news were published by: Businesswire.com which released: “United Bankshares, Inc. and Cardinal Financial Corporation Announce Merger …” on August 18, 2016. Also Businesswire.com published the news titled: “Cardinal Financial Corporation Announces Bernard H. Clineburg to assume …” on November 04, 2015. Reuters.com‘s news article titled: “BRIEF-Cardinal Financial Corp reports Q3 earnings of $0.37 per share” with publication date: October 19, 2016 was also an interesting one.

CFNL Company Profile

Cardinal Financial Corporation, incorporated on June 6, 2001, is a financial holding company. The Firm owns Cardinal Bank (the Bank), a Virginia state-chartered community bank with approximately 30 banking offices located in Northern Virginia, Maryland and the greater Washington, District of Columbia (DC) metropolitan area. The Bank operates in three business divisions: commercial banking, mortgage banking and wealth management services. The commercial banking segment includes both commercial and consumer lending and provides clients such products as commercial loans, real estate loans, and other business financing and consumer loans. In addition, commercial banking segment provides clients with several choices of deposit products, including demand deposit accounts, savings accounts and certificates of deposit. The mortgage banking segment is engaged primarily in the origination and acquisition of residential mortgages for sale into the secondary market. The wealth management services segment provides investment and financial advisory services to businesses and individuals, including financial planning, retirement/estate planning and investment management.

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