BidaskClub upgraded shares of Carolina Financial (NASDAQ:CARO) from a hold rating to a buy rating in a research report sent to investors on Friday.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Carolina Financial from a strong-buy rating to a hold rating in a research report on Tuesday, February 13th. Brean Capital reaffirmed a buy rating on shares of Carolina Financial in a research report on Monday, February 5th. Stephens reaffirmed a hold rating and issued a $43.00 target price on shares of Carolina Financial in a research report on Friday, January 26th. ValuEngine cut Carolina Financial from a buy rating to a hold rating in a research report on Friday, December 15th. Finally, Sandler O’Neill set a $44.00 target price on Carolina Financial and gave the stock a buy rating in a research report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Carolina Financial currently has a consensus rating of Buy and a consensus price target of $41.67.
Carolina Financial (CARO) opened at $40.96 on Friday. The company has a market capitalization of $863.15, a price-to-earnings ratio of 23.54 and a beta of 0.45. Carolina Financial has a 12-month low of $22.91 and a 12-month high of $42.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.80.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 5th. This represents a $0.20 annualized dividend and a yield of 0.49%. Carolina Financial’s dividend payout ratio is currently 11.49%.
In other Carolina Financial news, Director Robert M. Moise sold 5,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $38.84, for a total transaction of $194,200.00. Following the completion of the transaction, the director now directly owns 111,614 shares in the company, valued at $4,335,087.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.23% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. acquired a new position in Carolina Financial during the fourth quarter worth $106,000. SG Americas Securities LLC acquired a new position in Carolina Financial during the third quarter worth $143,000. Teacher Retirement System of Texas acquired a new position in Carolina Financial during the fourth quarter worth $251,000. Nationwide Fund Advisors raised its stake in Carolina Financial by 16.4% during the second quarter. Nationwide Fund Advisors now owns 7,827 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 1,104 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Carolina Financial during the second quarter worth $273,000. Hedge funds and other institutional investors own 44.89% of the company’s stock.
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About Carolina Financial
Carolina Financial Corporation is a bank holding company. The Company operates through CresCom Bank (the Bank), a state-chartered commercial 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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