Carolina Financial (CARO) Downgraded by BidaskClub to Hold

Carolina Financial (NASDAQ:CARO) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday.

CARO has been the subject of several other reports. Brean Capital set a $37.00 price target on shares of Carolina Financial and gave the company a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Carolina Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Raymond James Financial restated an “outperform” rating and set a $42.00 price target (up from $40.00) on shares of Carolina Financial in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.00.

Carolina Financial (NASDAQ:CARO) traded up $0.13 during midday trading on Thursday, reaching $37.47. 76,228 shares of the company’s stock traded hands, compared to its average volume of 29,959. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.19. Carolina Financial has a twelve month low of $22.20 and a twelve month high of $40.20. The stock has a market capitalization of $789.55, a price-to-earnings ratio of 19.42 and a beta of 0.45.

In other news, Director Robert M. Moise sold 3,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $36.76, for a total transaction of $110,280.00. Following the completion of 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 accessible through the SEC website. Corporate insiders own 12.23% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in shares of Carolina Financial by 0.9% during the second quarter. Wells Fargo & Company MN now owns 48,069 shares of the financial services provider’s stock worth $1,553,000 after purchasing an additional 446 shares during the period. Legal & General Group Plc boosted its holdings in shares of Carolina Financial 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 purchasing an additional 607 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Carolina Financial by 3.7% during the second quarter. California State Teachers Retirement System now owns 25,468 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 900 shares during the period. Nationwide Fund Advisors boosted its holdings 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 worth $253,000 after purchasing an additional 1,104 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Carolina Financial by 20.0% during the second quarter. Rhumbline Advisers now owns 14,409 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 2,402 shares during the period. Institutional investors own 35.49% of the company’s stock.

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Carolina Financial Company 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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