Carolina Financial Corp. (CARO) Set to Announce Earnings on Wednesday
Carolina Financial Corp. (NASDAQ:CARO) is scheduled to post its Q316 quarterly earnings results on Wednesday, October 19th.
Carolina Financial Corp. (NASDAQ:CARO) last issued its quarterly earnings data on Friday, July 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts expect Carolina Financial Corp. to post $1.36 EPS for the current fiscal year and $1.54 EPS for the next fiscal year.
Shares of Carolina Financial Corp. (NASDAQ:CARO) opened at 22.99 on Tuesday. The stock’s 50 day moving average price is $22.20 and its 200-day moving average price is $19.67. The company has a market cap of $283.37 million, a PE ratio of 18.12 and a beta of 0.37. Carolina Financial Corp. has a one year low of $14.49 and a one year high of $23.10.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Thursday, September 29th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 27th. This represents a $0.12 annualized dividend and a dividend yield of 0.52%. Carolina Financial Corp.’s dividend payout ratio is currently 9.30%.
CARO has been the topic of a number of analyst reports. TheStreet upgraded shares of Carolina Financial Corp. from a “hold” rating to a “buy” rating in a report on Monday, October 10th. Sandler O’Neill initiated coverage on shares of Carolina Financial Corp. in a report on Wednesday, September 14th. They issued a “hold” rating on the stock. Stephens initiated coverage on shares of Carolina Financial Corp. in a report on Friday, September 9th. They issued an “equal weight” rating and a $22.50 target price on the stock. Finally, Zacks Investment Research lowered shares of Carolina Financial Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average 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 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 owns 92,607 shares in the company, valued at approximately $1,869,735.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. 15.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of CARO. Paloma Partners Management Co raised its stake in 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 valued at $365,000 after buying an additional 3,879 shares during the period. State Street Corp purchased a new stake in Carolina Financial Corp. during the second quarter valued at approximately $1,898,000. Teachers Advisors Inc. purchased a new stake in Carolina Financial Corp. during the second quarter valued at approximately $306,000. Martingale Asset Management L P purchased a new stake in Carolina Financial Corp. during the second quarter valued at approximately $229,000. Finally, American International Group Inc. purchased a new stake in Carolina Financial Corp. during the second quarter valued at approximately $110,000. Hedge funds and other institutional investors own 25.75% of the company’s stock.
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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