FBR Capital Markets Downgrades Cardinal Financial Corp. to Market Perform (CFNL)
Cardinal Financial Corp. (NASDAQ:CFNL) was downgraded by analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. They currently have a $16.50 target price on the stock, down from their previous target price of $19.00. FBR Capital Markets’ price target would suggest a potential downside of 6.83% from the stock’s previous close.
Cardinal Financial Corp. (NASDAQ:CFNL) traded down 5.65% during mid-day trading on Friday, hitting $16.71. 209,597 shares of the company’s stock traded hands. Cardinal Financial Corp. has a 52 week low of $13.13 and a 52 week high of $18.40. The stock’s 50-day moving average is $16. and its 200-day moving average is $16.29. The company has a market cap of $505.7 million and a price-to-earnings ratio of 12.10.
Cardinal Financial Corp. (NASDAQ:CFNL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.32 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.33 by $0.01. During the same quarter last year, the company posted $0.34 earnings per share. On average, analysts predict that Cardinal Financial Corp. will post $1.17 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CFNL. Analysts at Boenning Scattergood downgraded shares of Cardinal Financial Corp. (NASDAQ:CFNL) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $17.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Sandler O’Neill raised their price target on shares of Cardinal Financial Corp. (NASDAQ:CFNL) from $17.00 to $17.50 in a research note to investors on Thursday, September 12th. They now have a “hold” rating on the stock. Finally, analysts at Keefe, Bruyette & Woods upgraded shares of Cardinal Financial Corp. (NASDAQ:CFNL) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, September 12th. They now have a $20.00 price target on the stock, up previously from $18.00.
Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Cardinal Financial Corp. presently has a consensus rating of “Hold” and a consensus price target of $17.53.
Cardinal Financial Corporation is a financial holding company. The Company owns Cardinal Bank (NASDAQ:CFNL), which is a state-chartered community bank with 27 banking offices located in Northern Virginia, Maryland and Washington, District of Columbia metropolitan area.
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