Cardinal Financial Corporation (
) reported three
as the company's price took a sharp drop.
On April 23, COO Alice Frazier bought 2,000 shares at $14.65
each. This transaction cost her $29,300. She now owns at least
3,500 shares of company stock.
On April 24, both Director William Buck and Chairman and CEO
Bernard Clineburg added to their stake in the company. Buck added
2,500 shares at $15.14 per share for a total transaction amount
of $37,850. Clineburg bought 1,025 shares for $15.04 per share.
This buy cost him a much smaller $15,416.
These transactions mark the first insider cluster buy for
Cardinal Financial. These three buys came as the price of the
company dropped from over $18 per share to under $15 per share.
Cardinal Financial is a financial services holding company
headquartered in Virginia. Cardinal Financial operates via their
subsidiaries Cardinal Bank, George Mason Mortgage, Cardinal Trust
and Investments, Cardinal Wealth Services, and Wilson/Bennett
On April 18 the company announced that it had increased its
quarterly cash dividend from $0.01 to $0.06 per share. Also on
April 18, Cardinal Financial reported its first quarter results.
The company announced quarterly earnings of $7.2 million, or
$0.23 per diluted share, compared to $7.7 million, or $0.26 per
diluted share, for the corresponding quarter in 2012.
data by GuruFocus.com
Chairman and CEO Bernard Clineburg said, "The announcement of an
increase to our dividend is a testament to the board of
director's and management's belief in the fundamentals of our
earnings and growth prospects for the Company. We are proud to
announce our inclusion in the Keefe, Bruyette & Woods 'Bank
Honor Roll', a distinction for banks achieving positive earnings
per share growth trends over the last decade, with no annual
losses, regardless of the economic environment."
The GuruFocus analysis reports that the company has added $2.457
million of debt in the past three years. It also reports that
dividend yield is close to a 10-year high and that the P/E Ratio
is close to a 10-year low.
The financials of Cardinal, the company has seen a 35.8% revenue
growth within the past year, and in the past ten years it has
seen a 9.8% increase. The company's net income and earnings have
increased since 2008. Cardinal Financial has had a negative cash
flow for the past two years.
Market Cap: 454.11 M
Shiller P/E: 23.9
52 Week Low: 10.98
52 Week High: 18.40
Average Volume: 258,318
Steven Cohen owns 14,819 shares and Jim Simons holds 228,703
shares of Cardinal Financial.
With its shares up 0.33%, Cardinal Financial currently trades at
$15.40.About GuruFocus: GuruFocus.com tracks the stocks picks and
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