Metropolitan Life Insurance Co. NY lifted its position in shares of Carolina Financial Corp (NASDAQ:CARO) by 390.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,753 shares of the financial services provider’s stock after acquiring an additional 5,375 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Carolina Financial were worth $200,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Carolina Financial by 15.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 277,298 shares of the financial services provider’s stock valued at $10,458,000 after acquiring an additional 38,131 shares in the last quarter. Vanguard Group Inc grew its stake in Carolina Financial by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 994,107 shares of the financial services provider’s stock worth $37,498,000 after buying an additional 12,960 shares during the last quarter. Quantamental Technologies LLC bought a new position in Carolina Financial during the 4th quarter worth $47,000. Renaissance Technologies LLC grew its stake in Carolina Financial by 6.8% during the 3rd quarter. Renaissance Technologies LLC now owns 519,716 shares of the financial services provider’s stock worth $19,604,000 after buying an additional 33,229 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Carolina Financial by 102.8% during the 3rd quarter. Wells Fargo & Company MN now owns 59,879 shares of the financial services provider’s stock worth $2,258,000 after buying an additional 30,347 shares during the last quarter. 55.29% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Michael P. Leddy sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $34.50, for a total transaction of $690,000.00. Following the completion of the transaction, the director now owns 53,892 shares of the company’s stock, valued at $1,859,274. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert M. Moise sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $32.92, for a total value of $181,060.00. Following the transaction, the director now directly owns 98,743 shares of the company’s stock, valued at approximately $3,250,619.56. The disclosure for this sale can be found here. Insiders have sold 30,500 shares of company stock valued at $1,050,410 in the last ninety days. Company insiders own 6.89% of the company’s stock.
Shares of CARO stock opened at $35.93 on Tuesday. Carolina Financial Corp has a fifty-two week low of $27.62 and a fifty-two week high of $45.58. The stock has a market cap of $812.33 million, a P/E ratio of 12.56 and a beta of 1.00. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.10.
Carolina Financial (NASDAQ:CARO) last announced its earnings results on Thursday, January 24th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.07. Carolina Financial had a return on equity of 11.60% and a net margin of 24.72%. The business had revenue of $43.41 million during the quarter, compared to analysts’ expectations of $45.07 million. As a group, sell-side analysts predict that Carolina Financial Corp will post 2.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.89%. This is a boost from Carolina Financial’s previous quarterly dividend of $0.07. Carolina Financial’s dividend payout ratio (DPR) is currently 11.19%.
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Carolina Financial Profile
Carolina Financial Corporation operates as a holding company for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company operates through three segments: Community Banking, Wholesale Mortgage Banking, and Other. It offers noninterest-bearing demand accounts, interest-bearing demand and savings accounts, money market accounts, time deposits, and certificates of deposit.
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