ClariVest Asset Management LLC bought a new position in shares of Carolina Financial Corp (NASDAQ:CARO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,495 shares of the financial services provider’s stock, valued at approximately $593,000. ClariVest Asset Management LLC owned 0.08% of Carolina Financial as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in shares of Carolina Financial by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 48,069 shares of the financial services provider’s stock worth $1,553,000 after purchasing an additional 446 shares in the last quarter. American International Group Inc. increased its stake in shares of Carolina Financial by 8.7% during the 1st quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 512 shares in the last quarter. Legal & General Group Plc grew its stake in Carolina Financial by 19.1% in the 2nd quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 607 shares during the period. California State Teachers Retirement System grew its stake in Carolina Financial by 3.7% in the 2nd quarter. California State Teachers Retirement System now owns 25,468 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 900 shares during the period. Finally, Nationwide Fund Advisors grew its stake in Carolina Financial by 16.4% in the 2nd quarter. Nationwide Fund Advisors now owns 7,827 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 1,104 shares during the period. Hedge funds and other institutional investors own 35.49% of the company’s stock.
In other Carolina Financial news, Director Robert M. Moise sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $36.76, for a total value of $110,280.00. Following the transaction, the director now owns 119,086 shares in the company, valued at approximately $4,377,601.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 12.23% of the stock is currently owned by corporate insiders.
CARO has been the topic of several recent research reports. Raymond James Financial restated an “outperform” rating and set a $42.00 target price (up previously from $40.00) on shares of Carolina Financial in a report on Tuesday, October 31st. Brean Capital reiterated a “buy” rating on shares of Carolina Financial in a report on Monday, October 30th. Zacks Investment Research downgraded shares of Carolina Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, BidaskClub raised shares of Carolina Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $39.00.
Carolina Financial Corp (CARO) traded up $0.13 during mid-day trading on Thursday, hitting $37.47. 76,228 shares of the stock were exchanged, compared to its average volume of 29,959. Carolina Financial Corp has a twelve month low of $22.20 and a twelve month high of $40.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $789.55, a price-to-earnings ratio of 19.42 and a beta of 0.45.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, December 13th. This is a positive change from Carolina Financial’s previous quarterly dividend of $0.04. Carolina Financial’s dividend payout ratio is currently 8.74%.
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About Carolina Financial
Carolina Financial Corporation is a bank holding company. The Company operates through CresCom Bank (the Bank), a state-chartered commercial bank. The Company operates through three segments: community banking, wholesale mortgage banking (mortgage banking) and other. The Company’s community banking segment provides traditional banking services offered through CresCom Bank.
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