Raymond James Downgrades Cardinal Financial Corporation to Market Perform

Brokerage firm Raymond James Downgrades its rating on Cardinal Financial Corporation(NASDAQ:CFNL). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Aug 19, 2016.

Cardinal Financial Corporation (CFNL) made into the market gainers list on Mondays trading session with the shares advancing 0.57% or 0.15 points. Due to strong positive momentum, the stock ended at $26.46, which is also near the day’s high of $26.65. The stock began the session at $26.39 and the volume stood at 7,98,532 shares. The 52-week high of the shares is $28.16 and the 52 week low is $17.51. The company has a current market capitalization of $859 M and it has 3,24,59,179 shares in outstanding.

Cardinal Financial Corporation(CFNL) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $52.01M. Analysts had an estimated revenue of $45.11M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.36.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, Mark A Wendel (EVP/Chief Financial Officer) sold 15,000 shares at $21.10 per share price.Also, 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.

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