Guggenheim Capital LLC boosted its stake in shares of Cardinal Financial Co. (NASDAQ:CFNL) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,488 shares of the company’s stock after buying an additional 21,773 shares during the period. Guggenheim Capital LLC owned approximately 0.29% of Cardinal Financial worth $3,130,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in CFNL. Macquarie Group Ltd. increased its stake in shares of Cardinal Financial by 17.5% in the second quarter. Macquarie Group Ltd. now owns 659,260 shares of the company’s stock valued at $14,464,000 after buying an additional 98,106 shares in the last quarter. Capstone Asset Management Co. purchased a new stake in shares of Cardinal Financial during the third quarter valued at $240,000. Kassirer Asset Management Corp purchased a new stake in shares of Cardinal Financial during the third quarter valued at $1,305,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Cardinal Financial during the third quarter valued at $8,945,000. Finally, Sphinx Trading LP purchased a new stake in shares of Cardinal Financial during the third quarter valued at $218,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cardinal Financial Co. (NASDAQ:CFNL) opened at 28.79 on Friday. The stock has a market cap of $952.46 million, a P/E ratio of 19.19 and a beta of 0.99. Cardinal Financial Co. has a 52 week low of $19.21 and a 52 week high of $34.75. The stock has a 50 day moving average of $30.80 and a 200 day moving average of $29.67.
The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Thursday, February 9th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 7th. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. This is a boost from Cardinal Financial’s previous quarterly dividend of $0.12. Cardinal Financial’s dividend payout ratio (DPR) is currently 34.67%.
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Separately, Zacks Investment Research downgraded shares of Cardinal Financial from a “buy” rating to a “hold” rating in a research note on Monday, January 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $24.00.
In related news, CFO Mark A. Wendel sold 1,500 shares of Cardinal Financial stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $31.49, for a total value of $47,235.00. Following the sale, the chief financial officer now owns 17,425 shares of the company’s stock, valued at approximately $548,713.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Alice P. Frazier sold 2,887 shares of Cardinal Financial stock in a transaction on Monday, February 27th. The shares were sold at an average price of $31.42, for a total transaction of $90,709.54. Following the completion of the sale, the chief operating officer now directly owns 17,676 shares in the company, valued at approximately $555,379.92. The disclosure for this sale can be found here. Insiders sold a total of 7,274 shares of company stock worth $228,163 in the last three months. 6.23% of the stock is owned by corporate 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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