Alps Advisors Inc. purchased a new stake in Carolina Financial Corp (NASDAQ:CARO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,855 shares of the financial services provider’s stock, valued at approximately $497,000. Alps Advisors Inc. owned 0.09% of Carolina Financial as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC raised its stake in shares of Carolina Financial by 227.3% in the 3rd quarter. Chicago Equity Partners LLC now owns 23,850 shares of the financial services provider’s stock valued at $856,000 after acquiring an additional 16,564 shares during the period. Lincoln National Corp raised its stake in shares of Carolina Financial by 142.5% in the 3rd quarter. Lincoln National Corp now owns 18,637 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 10,953 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in shares of Carolina Financial in the 3rd quarter valued at approximately $212,000. Affinity Investment Advisors LLC purchased a new stake in shares of Carolina Financial in the 3rd quarter valued at approximately $254,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Carolina Financial by 93.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 145,214 shares of the financial services provider’s stock valued at $5,210,000 after acquiring an additional 70,214 shares during the period. 35.49% of the stock is currently owned by institutional investors and hedge funds.
In related 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 transaction of $110,280.00. Following the sale, the director now directly owns 119,086 shares of the company’s stock, valued at approximately $4,377,601.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.23% of the stock is owned by corporate insiders.
CARO has been the topic of a number of research analyst reports. Brean Capital reissued a “buy” rating and issued a $40.00 price target on shares of Carolina Financial in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of Carolina Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Raymond James Financial reissued an “outperform” rating and issued a $42.00 price target (up from $40.00) on shares of Carolina Financial in a research note on Tuesday, October 31st. Finally, BidaskClub downgraded shares of Carolina Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $39.00.
Shares of Carolina Financial Corp (CARO) traded up $0.09 on Monday, reaching $38.44. 122,650 shares of the company traded hands, compared to its average volume of 29,504. Carolina Financial Corp has a 1 year low of $21.83 and a 1 year high of $40.20. The stock has a market cap of $807.67, a P/E ratio of 19.87 and a beta of 0.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.80 and a current ratio of 0.81.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be paid a dividend of $0.05 per share. This is an increase from Carolina Financial’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 13th. Carolina Financial’s dividend payout ratio is presently 8.74%.
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Carolina Financial Profile
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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