Shares of Carolina Financial Corp (NASDAQ:CARO) have been assigned an average recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $42.20.
CARO has been the subject of several recent research reports. Sandler O’Neill set a $44.00 price objective on Carolina Financial and gave the company a “buy” rating in a research report on Thursday, January 4th. Zacks Investment Research raised Carolina Financial from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, January 3rd. Brean Capital reissued a “buy” rating on shares of Carolina Financial in a research report on Tuesday, January 2nd. BidaskClub raised Carolina Financial from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, ValuEngine raised Carolina Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, April 11th.
In other news, Director Robert M. Moise sold 5,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $38.84, for a total transaction of $194,200.00. Following the completion of the transaction, the director now directly owns 111,614 shares in the company, valued at $4,335,087.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.76% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Phocas Financial Corp. increased its holdings in shares of Carolina Financial by 93.8% during the fourth quarter. Phocas Financial Corp. now owns 300,780 shares of the financial services provider’s stock valued at $11,174,000 after acquiring an additional 145,607 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Carolina Financial during the fourth quarter valued at $333,000. TIAA CREF Investment Management LLC increased its holdings in shares of Carolina Financial by 17.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 42,184 shares of the financial services provider’s stock valued at $1,567,000 after acquiring an additional 6,190 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Carolina Financial by 31.9% during the fourth quarter. Teachers Advisors LLC now owns 33,836 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 8,192 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Carolina Financial by 30.0% during the fourth quarter. California State Teachers Retirement System now owns 29,843 shares of the financial services provider’s stock valued at $1,109,000 after acquiring an additional 6,886 shares in the last quarter. Hedge funds and other institutional investors own 44.82% of the company’s stock.
Shares of CARO stock opened at $39.50 on Wednesday. Carolina Financial has a 52 week low of $23.09 and a 52 week high of $42.42. The firm has a market capitalization of $833.25, a P/E ratio of 19.36 and a beta of 0.61. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.
Carolina Financial (NASDAQ:CARO) last announced 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. The business 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 10.36% and a net margin of 22.22%. sell-side analysts anticipate that Carolina Financial will post 2.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, March 5th. Carolina Financial’s dividend payout ratio is currently 9.80%.
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Carolina Financial Company Profile
Carolina Financial Corporation operates as a holding company for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company operates through three segments: Community Banking, Wholesale Mortgage Banking, and Other. It offers checking accounts, commercial accounts, savings accounts, money market accounts, retirement accounts, longer-term certificates of deposit, noninterest-bearing demand accounts, and interest-bearing demand accounts to individuals, businesses, associations, organizations, and governmental authorities.
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