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.
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