BidaskClub upgraded shares of Carolina Financial (NASDAQ:CARO) from a hold rating to a buy rating in a research report report published on Friday, March 9th.
CARO has been the subject of a number of other research reports. Brean Capital restated a buy rating on shares of Carolina Financial in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded Carolina Financial from a buy rating to a hold rating in a research report on Tuesday, January 9th. Sandler O’Neill set a $44.00 price target on Carolina Financial and gave the stock a buy rating in a research note on Thursday, January 4th. ValuEngine cut Carolina Financial from a buy rating to a hold rating in a research note on Friday, December 15th. Finally, Stephens reaffirmed a hold rating and issued a $43.00 price target on shares of Carolina Financial in a research note on Friday, January 26th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $41.67.
Shares of Carolina Financial (CARO) opened at $41.55 on Friday. The firm has a market capitalization of $873.46, a P/E ratio of 23.74 and a beta of 0.61. Carolina Financial has a 12-month low of $22.91 and a 12-month high of $42.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.80.
Carolina Financial (NASDAQ:CARO) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. The company had revenue of $37.50 million during the quarter, compared to the consensus estimate of $34.33 million. Carolina Financial had a return on equity of 12.15% and a net margin of 22.22%. analysts expect that Carolina Financial will post 2.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 5th. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. Carolina Financial’s dividend payout ratio (DPR) is currently 11.43%.
In other Carolina Financial news, Director Robert M. Moise sold 5,000 shares of Carolina Financial stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $38.84, for a total value of $194,200.00. Following the transaction, the director now directly owns 111,614 shares of the company’s stock, valued at approximately $4,335,087.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.23% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CARO. Nationwide Fund Advisors increased its stake in shares of Carolina Financial by 16.4% during the second quarter. Nationwide Fund Advisors now owns 7,827 shares of the financial services provider’s stock valued at $253,000 after buying an additional 1,104 shares during the period. Northern Trust Corp increased its stake in shares of Carolina Financial by 25.3% during the second quarter. Northern Trust Corp now owns 156,102 shares of the financial services provider’s stock valued at $5,045,000 after buying an additional 31,514 shares during the period. Vanguard Group Inc. increased its stake in shares of Carolina Financial by 17.4% during the second quarter. Vanguard Group Inc. now owns 523,484 shares of the financial services provider’s stock valued at $16,919,000 after buying an additional 77,678 shares during the period. California Public Employees Retirement System increased its stake in shares of Carolina Financial by 19.9% during the second quarter. California Public Employees Retirement System now owns 28,900 shares of the financial services provider’s stock valued at $934,000 after buying an additional 4,800 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Carolina Financial by 32.8% during the second quarter. Dimensional Fund Advisors LP now owns 145,366 shares of the financial services provider’s stock valued at $4,698,000 after buying an additional 35,932 shares during the period. 44.89% of the stock is currently owned by hedge funds and other institutional investors.
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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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