River Oaks Capital LLC acquired a new position in shares of Carolina Financial Corp (NASDAQ:CARO) in the 4th quarter, Holdings Channel reports. The fund acquired 85,581 shares of the financial services provider’s stock, valued at approximately $3,179,000. Carolina Financial accounts for about 2.5% of River Oaks Capital LLC’s holdings, making the stock its 15th biggest holding.
Other institutional investors also recently modified their holdings of the company. Advisor Group Inc. raised its position in shares of Carolina Financial by 826.4% during the 2nd quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 2,818 shares during the last quarter. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Carolina Financial during the 4th quarter worth approximately $106,000. SG Americas Securities LLC acquired a new position in shares of Carolina Financial during the 3rd quarter worth approximately $143,000. Capital Investment Advisory Services LLC acquired a new position in shares of Carolina Financial during the 3rd quarter worth approximately $212,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Carolina Financial during the 4th quarter worth approximately $251,000. Hedge funds and other institutional investors own 40.40% of the company’s stock.
Several research analysts recently issued reports on CARO shares. 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. Brean Capital restated a “buy” rating on shares of Carolina Financial in a research report on Tuesday, December 5th. BidaskClub downgraded Carolina Financial from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. ValuEngine downgraded Carolina Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Zacks Investment Research downgraded Carolina Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $41.67.
Carolina Financial Corp (NASDAQ CARO) opened at $39.79 on Wednesday. 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 firm has a market capitalization of $853.29, a price-to-earnings ratio of 22.74 and a beta of 0.52. Carolina Financial Corp has a twelve month low of $22.62 and a twelve month high of $42.42.
Carolina Financial (NASDAQ:CARO) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The company had revenue of $37.50 million during the quarter, compared to the consensus estimate of $34.33 million. Carolina Financial had a return on equity of 12.15% and a net margin of 22.22%. equities research analysts anticipate that Carolina Financial Corp will post 2.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.20 annualized dividend and a yield of 0.50%. Carolina Financial’s dividend payout ratio (DPR) is presently 11.43%.
In other Carolina Financial news, Director Robert M. Moise sold 5,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $38.84, for a total value of $194,200.00. Following the completion of the transaction, the director now directly owns 111,614 shares in the company, valued at approximately $4,335,087.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.23% 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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