The stock of Yadkin Financial Corp (NYSE:YDKN) hit a new 52-week high and has $50.99 target or 60.00% above today’s $31.87 share price. The 6 months bullish chart indicates low risk for the $1.69 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $50.99 price target is reached, the company will be worth $1.01B 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. About 90,434 shares traded hands. Yadkin Financial Corp (NYSE:YDKN) has risen 28.09% since April 19, 2016 and is uptrending. It has outperformed by 24.23% the S&P500.
Yadkin Financial Corp (NYSE:YDKN) Ratings Coverage
Out of 6 analysts covering Yadkin Financial Corp (NYSE:YDKN), 0 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 0 are positive. Yadkin Financial Corp has been the topic of 13 analyst reports since October 23, 2015 according to StockzIntelligence Inc. On Friday, July 22 the stock rating was downgraded by Wood to “Market Perform”. Hovde Group downgraded the shares of YDKN in a report on Thursday, July 21 to “Market Perform” rating. On Monday, December 7 the stock rating was downgraded by Hovde Group to “Market Perform”. The stock of Yadkin Financial Corp (NYSE:YDKN) earned “Mkt Perform” rating by Keefe Bruyette & Woods on Friday, July 22. The firm has “Outperform” rating given on Thursday, December 17 by Raymond James. Hovde Group upgraded it to “Outperform” rating and $28.0 target price in Friday, January 8 report. Hovde Group maintained Yadkin Financial Corp (NYSE:YDKN) rating on Monday, November 9. Hovde Group has “Outperform” rating and $28.0 price target. Stephens initiated the shares of YDKN in a report on Wednesday, December 2 with “Overweight” rating. The stock of Yadkin Financial Corp (NYSE:YDKN) has “Equal-Weight” rating given on Wednesday, September 14 by Stephens. On Friday, July 22 the stock rating was downgraded by Raymond James to “Mkt Perform”.
According to Zacks Investment Research, “Yadkin Financial Corporation is a holding company that conducts its business activities through its subsidiary, Yadkin Valley Bank and Trust Company. The Bank’s primary business is providing banking, mortgage, investment and insurance services to residents and businesses. It operates primarily in North Carolina and South Carolina. Yadkin Financial Corporation, formerly known as Yadkin Valley Financial Corporation, is based in Elkin, United States.”
Insitutional Activity: The institutional sentiment decreased to 0.98 in 2016 Q2. Its down 0.52, from 1.5 in 2016Q1. The ratio is negative, as 9 funds sold all Yadkin Financial Corp shares owned while 33 reduced positions. 17 funds bought stakes while 46 increased positions. They now own 32.28 million shares or 48.08% less from 62.17 million shares in 2016Q1.
Commercial Bank Of America Corp De holds 68,668 shares or 0% of its portfolio. Monarch Prns Asset Ltd Liability Co holds 0.37% of its portfolio in Yadkin Financial Corp (NYSE:YDKN) for 146,230 shares. State Of Wisconsin Board has 0.09% invested in the company for 912,716 shares. Raymond James & Assoc has 11,404 shares for 0% of their US portfolio. Stifel Fincl holds 0% of its portfolio in Yadkin Financial Corp (NYSE:YDKN) for 37,889 shares. Mendon Advsrs Corp reported 2.21M shares or 5.72% of all its holdings. Moreover, Susquehanna Gru Limited Liability Partnership has 0% invested in Yadkin Financial Corp (NYSE:YDKN) for 28,075 shares. Basswood Cap Management Ltd Limited Liability Company has 153,614 shares for 0.22% of their US portfolio. Nationwide Fund Advsrs, a Pennsylvania-based fund reported 51,980 shares. The Pennsylvania-based Brandywine Inv Mngmt Lc has invested 0% in Yadkin Financial Corp (NYSE:YDKN). Tiaa Cref Invest Management Limited Liability Corp last reported 175,874 shares in the company. Endicott Mngmt Com has invested 18.48% of its portfolio in Yadkin Financial Corp (NYSE:YDKN). Cubist Systematic Strategies Ltd holds 0.01% of its portfolio in Yadkin Financial Corp (NYSE:YDKN) for 10,250 shares. Rmb Mngmt Limited Liability Co accumulated 1% or 766,521 shares. Paloma Partners Management holds 11,224 shares or 0% of its portfolio.
More important recent Yadkin Financial Corp (NYSE:YDKN) news were published by: Bizjournals.com which released: “F.N.B. Corp. buying Yadkin Financial in $1.4B deal” on July 21, 2016, also Bloomberg.com published article titled: “North Carolina Bank Yadkin Financial Said to Explore Sale”, Forbes.com published: “Ex-Dividend Reminder: Yadkin Financial, International Business Machines and …” on November 04, 2016. More interesting news about Yadkin Financial Corp (NYSE:YDKN) was released by: Wsj.com and their article: “Yadkin Financial to Acquire NewBridge Bancorp” with publication date: October 13, 2015.
YDKN Company Profile
Yadkin Financial Corporation, incorporated on March 2, 2006, is a bank holding company. The Firm conducts its business through its subsidiary, Yadkin Bank, which is a chartered community bank that provides services in approximately 110 branches across North Carolina and South Carolina. Yadkin Bank provides banking, mortgage, investment and insurance services to businesses and clients across the Carolinas. The Firm is engaged in providing general commercial banking and financial services to individuals and businesses located in North Carolina and South Carolina, and to clients in various states through its Small Business Administration (SBA) lending program.
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