Carolina Financial Corp. (NASDAQ:CARO) announced a quarterly dividend on Wednesday, August 24th. Shareholders of record on Thursday, September 29th will be paid a dividend of 0.03 per share by the financial services provider on Friday, October 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Tuesday, September 27th.

Carolina Financial Corp. (NASDAQ:CARO) opened at 22.13 on Thursday. Carolina Financial Corp. has a 12-month low of $14.49 and a 12-month high of $22.59. The stock has a 50 day moving average of $21.30 and a 200 day moving average of $19.04. The company has a market capitalization of $272.77 million, a PE ratio of 17.44 and a beta of 0.38.

Carolina Financial Corp. (NASDAQ:CARO) last announced its earnings results on Friday, July 29th. The financial services provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.12. Carolina Financial Corp. had a return on equity of 12.02% and a net margin of 17.32%. On average, equities research analysts predict that Carolina Financial Corp. will post $1.34 EPS for the current year.

CARO has been the topic of several analyst reports. Zacks Investment Research lowered shares of Carolina Financial Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Stephens initiated coverage on shares of Carolina Financial Corp. in a research note on Friday, September 9th. They issued an “equal weight” rating and a $22.50 price target on the stock. Finally, Sandler O’Neill initiated coverage on shares of Carolina Financial Corp. in a research note on Wednesday, September 14th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Carolina Financial Corp. presently has a consensus rating of “Hold” and a consensus price target of $21.83.

In other Carolina Financial Corp. news, Director Michael P. Leddy sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were 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 directly owns 92,607 shares of the company’s stock, valued at $1,869,735.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.50% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in CARO. California Public Employees Retirement System bought a new position in shares of Carolina Financial Corp. during the second quarter worth $301,000. Nationwide Fund Advisors increased its position in shares of Carolina Financial Corp. by 233.4% in the second quarter. Nationwide Fund Advisors now owns 9,195 shares of the financial services provider’s stock worth $172,000 after buying an additional 6,437 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Carolina Financial Corp. by 14.1% in the second quarter. Vanguard Group Inc. now owns 360,115 shares of the financial services provider’s stock worth $6,727,000 after buying an additional 44,553 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Carolina Financial Corp. by 2,606.7% in the second quarter. BlackRock Investment Management LLC now owns 41,683 shares of the financial services provider’s stock worth $779,000 after buying an additional 40,143 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Carolina Financial Corp. by 1,189.0% in the second quarter. BlackRock Fund Advisors now owns 274,166 shares of the financial services provider’s stock worth $5,121,000 after buying an additional 252,896 shares in the last quarter. 25.77% of the stock is owned by institutional investors.

About Carolina Financial Corp.

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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