Shares of Carolina Financial Corp. (NASDAQ:CARO) dropped 4.6% on Friday . The stock traded as low as $18.67 and last traded at $19.13, with a volume of 73,123 shares changing hands. The stock had previously closed at $20.06.

CARO has been the subject of several recent analyst reports. TheStreet upgraded Carolina Financial Corp. from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Zacks Investment Research upgraded Carolina Financial Corp. from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, April 27th. Finally, Raymond James Financial Inc. downgraded Carolina Financial Corp. from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, April 7th.

The company has a 50-day moving average of $18.46 and a 200 day moving average of $17.78. The company has a market cap of $224.76 million and a price-to-earnings ratio of 13.15.

The business also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 22nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Monday, June 20th.

In related news, Director Daniel H. Isaac, Jr. bought 11,400 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was bought at an average price of $17.59 per share, with a total value of $200,526.00. Following the purchase, the director now directly owns 53,111 shares of the company’s stock, valued at approximately $934,222.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

A hedge fund recently bought a new stake in Carolina Financial Corp. stock. EJF Capital LLC bought a new position in shares of Carolina Financial Corp. (NASDAQ:CARO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 175,000 shares of the financial services provider’s stock, valued at approximately $3,150,000. EJF Capital LLC owned approximately 1.77% of Carolina Financial Corp. at the end of the most recent reporting period.

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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