Carolina Financial Corp. (CARO) Lifted to Buy at TheStreet
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Carolina Financial Corp. from a hold rating to a buy rating and set a $22.00 target price for the company in a research report on Tuesday, August 2nd. Stephens started coverage on shares of Carolina Financial Corp. in a research report on Friday, September 9th. They set an equal weight rating and a $22.50 target price for the company. Finally, Sandler O’Neill started coverage on shares of Carolina Financial Corp. in a research report on Wednesday, September 14th. They set a hold rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Carolina Financial Corp. currently has an average rating of Hold and an average price target of $21.83.
Carolina Financial Corp. (NASDAQ:CARO) opened at 22.67 on Monday. The company has a market capitalization of $279.43 million, a PE ratio of 17.86 and a beta of 0.37. Carolina Financial Corp. has a 52 week low of $14.49 and a 52 week high of $23.10. The company has a 50-day moving average of $22.13 and a 200-day moving average of $19.59.
Carolina Financial Corp. (NASDAQ:CARO) last released 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 net margin of 17.32% and a return on equity of 12.02%. On average, equities research analysts anticipate that Carolina Financial Corp. will post $1.36 EPS for the current year.
The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.12 annualized dividend and a dividend yield of 0.53%. Carolina Financial Corp.’s dividend payout ratio is 9.30%.
In other news, Director Michael P. Leddy sold 10,000 shares of the firm’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 sale, the director now directly owns 92,607 shares of the company’s stock, valued at approximately $1,869,735.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 15.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Carolina Financial Corp. by 5.5% in the first quarter. Geode Capital Management LLC now owns 46,251 shares of the financial services provider’s stock worth $858,000 after buying an additional 2,410 shares during the period. Paloma Partners Management Co boosted its position in shares of 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 worth $365,000 after buying an additional 3,879 shares during the period. American International Group Inc. acquired a new position in shares of Carolina Financial Corp. during the second quarter worth about $110,000. Nationwide Fund Advisors boosted 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 during the period. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Carolina Financial Corp. during the second quarter worth about $181,000. 25.74% of the stock is owned by 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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