Cardinal Financial Corporation (CFNL) is Downgraded by Raymond James to Mkt Perform

Cardinal Financial Corporation (CFNL) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Aug 19, 2016.

On the company’s financial health, Cardinal Financial Corporation reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.36.Analysts expectations of $ 45.00.During the same quarter in the previous year, the company posted $0.40 EPS.

Cardinal Financial Corporation opened for trading at $27.1 and hit $28.16 on the upside on Wednesday, eventually ending the session at $27.23, with a gain of 5.62% or 1.45 points. The heightened volatility saw the trading volume jump to 6,28,811 shares. Company has a market cap of $884 M.

In a different news, on Jun 30, 2016, Mark A Wendel (EVP/Chief Financial Officer) sold 15,000 shares at $21.10 per share price. According to the SEC, on Feb 26, 2016, William G Buck (director) purchased 1,000 shares at $19.18 per share price. On Feb 18, 2016, Alice M Starr (director) purchased 1,000 shares at $19.08 per share price, according to the Form-4 filing with the securities and exchange commission.

Cardinal Financial Corporation is a financial holding company. The Company through its subsidiary Cardinal Bank (the Bank) offers traditional bank loan and deposit products and services to both commercial and retail customers with 32 banking offices located in Northern Virginia Maryland and the greater Washington District of Columbia metropolitan area. 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. The mortgage banking segment is engaged in the origination and acquisition of residential mortgages for sale into the secondary market on a best efforts basis. The wealth management services segment provides investment and financial advisory services to businesses and individuals.

Cardinal Financial Corporation

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