Carolina Financial (NASDAQ:CARO)‘s stock had its “hold” rating restated by Stephens in a research report issued to clients and investors on Friday, January 26th. They presently have a $43.00 target price on the financial services provider’s stock. Stephens’ price target suggests a potential upside of 10.82% from the stock’s current price.
Several other equities analysts have also issued reports on CARO. Zacks Investment Research lowered Carolina Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Brean Capital set a $37.00 price objective on Carolina Financial and gave the company a “buy” rating in a report on Friday, October 20th. Raymond James Financial reissued an “outperform” rating and set a $42.00 price objective (up from $40.00) on shares of Carolina Financial in a report on Tuesday, October 31st. BidaskClub lowered Carolina Financial from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, ValuEngine downgraded Carolina Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $41.67.
Carolina Financial (CARO) opened at $38.80 on Friday. Carolina Financial has a 52 week low of $28.14 and a 52 week high of $42.42. 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 has a market capitalization of $813.37, a P/E ratio of 22.30 and a beta of 0.36.
Carolina Financial (NASDAQ:CARO) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $37.50 million during the quarter, compared to analyst estimates of $34.33 million. Carolina Financial had a return on equity of 12.15% and a net margin of 22.22%. analysts anticipate that Carolina Financial will post 2.7 earnings per share for the current year.
In other Carolina Financial news, Director Robert M. Moise sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $38.84, for a total transaction of $194,200.00. Following the sale, the director now owns 111,614 shares in the company, valued at $4,335,087.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.23% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. purchased a new stake in Carolina Financial during the fourth quarter valued at about $106,000. Advisor Group Inc. grew its stake in shares of Carolina Financial by 826.4% during the second quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock valued at $102,000 after buying an additional 2,818 shares during the last quarter. Legal & General Group Plc grew its stake 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 valued at $122,000 after buying an additional 607 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Carolina Financial during the third quarter valued at about $143,000. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Carolina Financial during the third quarter valued at about $212,000. Institutional investors and hedge funds own 34.57% 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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