Alps Advisors Inc. Takes Position in Carolina Financial Corporation (CARO)

Alps Advisors Inc. purchased a new position in Carolina Financial Corporation (NASDAQ:CARO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,855 shares of the financial services provider’s stock, valued at approximately $497,000. Alps Advisors Inc. owned approximately 0.09% of Carolina Financial Corporation as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Advisor Group Inc. grew its stake in Carolina Financial Corporation by 826.4% during the second quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock worth $102,000 after buying an additional 2,818 shares during the last quarter. Legal & General Group Plc grew its stake in Carolina Financial Corporation by 19.1% during the second quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock worth $122,000 after buying an additional 607 shares during the last quarter. American International Group Inc. grew its stake in Carolina Financial Corporation by 8.7% during the first quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock worth $192,000 after buying an additional 512 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in Carolina Financial Corporation during the third quarter worth about $212,000. Finally, Chicago Equity Partners LLC bought a new stake in Carolina Financial Corporation during the second quarter worth about $235,000. 33.23% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on CARO. BidaskClub cut shares of Carolina Financial Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Brean Capital reaffirmed a “buy” rating and set a $40.00 price objective on shares of Carolina Financial Corporation in a research note on Friday, November 10th. Zacks Investment Research raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Wednesday, November 1st. Stephens reissued a “hold” rating and set a $34.00 price target on shares of Carolina Financial Corporation in a research note on Monday, July 24th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating and set a $42.00 price target (up from $40.00) on shares of Carolina Financial Corporation in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $39.00.

In other Carolina Financial Corporation news, Director Robert M. Moise sold 3,000 shares of the stock in a transaction 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 sale, the director now directly owns 119,086 shares in the company, valued at $4,377,601.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.23% of the company’s stock.

Carolina Financial Corporation (NASDAQ CARO) opened at $37.35 on Friday. Carolina Financial Corporation has a 52 week low of $25.28 and a 52 week high of $39.60. The stock has a market cap of $786.59, a P/E ratio of 19.35 and a beta of 0.45. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.19.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, December 13th. This is a positive change from Carolina Financial Corporation’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.54%. Carolina Financial Corporation’s dividend payout ratio (DPR) is 8.74%.

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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.

Institutional Ownership by Quarter for Carolina Financial Corporation (NASDAQ:CARO)

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