Brean Capital reaffirmed their buy rating on shares of Carolina Financial (NASDAQ:CARO) in a research note published on Monday, January 29th.
Several other equities analysts also recently issued reports on the stock. BidaskClub downgraded shares of Carolina Financial from a buy rating to a hold rating in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Carolina Financial from a buy rating to a hold rating in a report on Thursday, November 2nd. Sandler O’Neill set a $44.00 target price on shares of Carolina Financial and gave the company a buy rating in a research report on Thursday, January 4th. Raymond James Financial restated an outperform rating and set a $42.00 price objective (up from $40.00) on shares of Carolina Financial in a research report on Tuesday, October 31st. Finally, Stephens reiterated a hold rating and set a $43.00 price target on shares of Carolina Financial in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $41.67.
Carolina Financial (CARO) opened at $39.66 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.80 and a current ratio of 0.81. Carolina Financial has a 52 week low of $22.62 and a 52 week high of $42.42. The stock has a market cap of $815.66, a P/E ratio of 22.66 and a beta of 0.52.
Carolina Financial (NASDAQ:CARO) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. Carolina Financial had a net margin of 22.22% and a return on equity of 12.15%. The business had revenue of $37.50 million for the quarter, compared to the consensus estimate of $34.33 million. equities research analysts expect that Carolina Financial will post 2.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.20 dividend on an annualized basis and a yield of 0.50%. Carolina Financial’s payout ratio is currently 11.43%.
In other news, Director Robert M. Moise sold 5,000 shares of Carolina Financial stock in a transaction on Monday, January 29th. The shares were sold at an average price of $38.84, for a total value of $194,200.00. Following the transaction, the director now directly owns 111,614 shares of the company’s stock, valued at approximately $4,335,087.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.23% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in CARO. Rhumbline Advisers increased its holdings in shares of Carolina Financial by 20.0% in the 2nd quarter. Rhumbline Advisers now owns 14,409 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 2,402 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Carolina Financial by 11.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,859 shares of the financial services provider’s stock worth $1,612,000 after purchasing an additional 4,952 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Carolina Financial by 19.1% during the 2nd 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 in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Carolina Financial during the 2nd quarter worth $437,000. Finally, Wells Fargo & Company MN boosted its position in shares of Carolina Financial by 0.9% during the 2nd 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 in the last quarter. 34.57% of the stock is currently owned by institutional investors and hedge funds.
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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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