Analysts Set Carolina Financial Corporation (CARO) Target Price at $36.75

Shares of Carolina Financial Corporation (NASDAQ:CARO) have received a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.75.

A number of research analysts recently issued reports on CARO shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $38.00 price target on shares of Carolina Financial Corporation in a research report on Friday, July 7th. BidaskClub raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stephens reissued a “hold” rating and set a $34.00 price target on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Zacks Investment Research cut shares of Carolina Financial Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Brean Capital reissued a “buy” rating on shares of Carolina Financial Corporation in a research report on Wednesday, August 2nd.



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In other Carolina Financial Corporation news, Director Jeffery L. Deal sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $33.53, for a total transaction of $335,300.00. Following the completion of the sale, the director now directly owns 60,101 shares in the company, valued at approximately $2,015,186.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.23% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CARO. Nationwide Fund Advisors increased its stake in Carolina Financial Corporation by 4.4% during the 1st quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 286 shares in the last quarter. Wells Fargo & Company MN increased its stake in Carolina Financial Corporation by 22.2% during the 1st quarter. Wells Fargo & Company MN now owns 47,623 shares of the financial services provider’s stock valued at $1,428,000 after purchasing an additional 8,650 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Carolina Financial Corporation by 41.5% during the 1st quarter. Bank of New York Mellon Corp now owns 44,907 shares of the financial services provider’s stock valued at $1,347,000 after purchasing an additional 13,179 shares in the last quarter. American International Group Inc. increased its stake in Carolina Financial Corporation by 8.7% during the 1st quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 512 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Carolina Financial Corporation by 125.7% during the 1st quarter. Wellington Management Group LLP now owns 351,328 shares of the financial services provider’s stock valued at $10,539,000 after purchasing an additional 195,699 shares in the last quarter. Institutional investors and hedge funds own 43.49% of the company’s stock.

Carolina Financial Corporation (NASDAQ:CARO) traded up 4.27% during midday trading on Wednesday, hitting $39.33. 659,490 shares of the stock traded hands. The stock’s 50-day moving average price is $35.52 and its 200-day moving average price is $32.90. Carolina Financial Corporation has a 52 week low of $22.17 and a 52 week high of $39.60. The stock has a market capitalization of $631.44 million, a P/E ratio of 21.65 and a beta of 0.46.

The company 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 dividend of $0.05 per share. This is a positive change from Carolina Financial Corporation’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Wednesday, December 13th. Carolina Financial Corporation’s dividend payout ratio (DPR) is currently 8.74%.

About Carolina Financial Corporation

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.

Analyst Recommendations for Carolina Financial Corporation (NASDAQ:CARO)

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