California State Teachers Retirement System bought a new stake in Carolina Financial Corp. (NASDAQ:CARO) during the second quarter, Holdings Channel reports. The firm bought 21,468 shares of the financial services provider’s stock, valued at approximately $401,000. California State Teachers Retirement System owned approximately 0.18% of Carolina Financial Corp. at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CARO. Bank of New York Mellon Corp bought a new position in shares of Carolina Financial Corp. during the second quarter valued at about $362,000. Northpointe Capital LLC raised its position in shares of Carolina Financial Corp. by 26.2% in the second quarter. Northpointe Capital LLC now owns 182,831 shares of the financial services provider’s stock valued at $3,415,000 after buying an additional 37,978 shares in the last quarter. Geode Capital Management LLC raised 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 valued at $858,000 after buying an additional 2,410 shares in the last quarter. UBS Group AG raised its position in shares of Carolina Financial Corp. by 4,537.7% in the first quarter. UBS Group AG now owns 28,754 shares of the financial services provider’s stock valued at $534,000 after buying an additional 28,134 shares in the last quarter. Finally, Spark Investment Management LLC bought a new position in shares of Carolina Financial Corp. during the first quarter valued at about $744,000. 25.74% of the stock is owned by institutional investors and hedge funds.
Shares of Carolina Financial Corp. (NASDAQ:CARO) traded up 0.61% during mid-day trading on Thursday, reaching $23.04. The company had a trading volume of 5,301 shares. The company has a market capitalization of $283.99 million, a P/E ratio of 18.16 and a beta of 0.37. The firm has a 50-day moving average of $22.08 and a 200-day moving average of $19.57. Carolina Financial Corp. has a 12-month low of $14.49 and a 12-month high of $23.10.
Carolina Financial Corp. (NASDAQ:CARO) last announced its earnings results on Friday, July 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the 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 analysts anticipate that Carolina Financial Corp. will post $1.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors 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 yield of 0.52%. Carolina Financial Corp.’s dividend payout ratio (DPR) is presently 9.30%.
Several research analysts recently issued reports on 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. Zacks Investment Research lowered Carolina Financial Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. TheStreet raised Carolina Financial Corp. from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Stephens started coverage on Carolina Financial Corp. in a research report on Friday, September 9th. They issued an “equal weight” rating and a $22.50 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.83.
In other Carolina Financial Corp. news, Director Michael P. Leddy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $20.19, for a total transaction of $201,900.00. Following the completion of the sale, the director now directly owns 92,607 shares in the company, valued at $1,869,735.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 15.50% of the stock is currently owned by corporate insiders.
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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