Carolina Financial Corp. (NASDAQ:CARO) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Monday.
CARO has been the subject of several other research reports. Stephens started coverage on Carolina Financial Corp. in a research report on Friday, September 9th. They set an “equal weight” rating and a $22.50 price objective for the company. Sandler O’Neill started coverage on Carolina Financial Corp. in a research report on Wednesday, September 14th. They set a “hold” rating for the company. Finally, Zacks Investment Research lowered Carolina Financial Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.83.
Carolina Financial Corp. (NASDAQ:CARO) traded down 0.36% on Monday, reaching $22.20. 20,120 shares of the company’s stock traded hands. Carolina Financial Corp. has a 12 month low of $14.49 and a 12 month high of $22.89. The firm’s 50 day moving average price is $22.03 and its 200 day moving average price is $19.54. The company has a market cap of $273.64 million, a PE ratio of 17.49 and a beta of 0.37.
Carolina Financial Corp. (NASDAQ:CARO) last released its quarterly earnings results on Friday, July 29th. The financial services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.12. Carolina Financial Corp. had a net margin of 17.32% and a return on equity of 12.02%. On average, equities analysts expect that Carolina Financial Corp. will post $1.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, September 27th. Carolina Financial Corp.’s dividend payout ratio is presently 9.30%.
In other news, Director Michael P. Leddy sold 10,000 shares of Carolina Financial Corp. stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $20.19, for a total value of $201,900.00. Following the completion of the transaction, the director now owns 92,607 shares of the company’s stock, valued at approximately $1,869,735.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.50% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. bought a new position in Carolina Financial Corp. during the second quarter valued at about $292,000. Paloma Partners Management Co raised its position in Carolina Financial Corp. by 24.8% in the second quarter. Paloma Partners Management Co now owns 19,522 shares of the financial services provider’s stock valued at $365,000 after buying an additional 3,879 shares in the last quarter. State Street Corp bought a new position in Carolina Financial Corp. during the second quarter valued at about $1,898,000. Teachers Advisors Inc. bought a new position in Carolina Financial Corp. during the second quarter valued at about $306,000. Finally, Martingale Asset Management L P bought a new position in Carolina Financial Corp. during the second quarter valued at about $229,000. 25.74% of the stock is owned by hedge funds and other institutional investors.
Carolina Financial Corp. Company Profile
Carolina Financial Corporation is a bank holding company. The Company operates through CresCom Bank, a South Carolina state-chartered bank (the 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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