Carolina Financial Corporation (NASDAQ:CARO) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued reports about the company. UBS AG raised Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Brean Capital raised Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Carolina Financial Corporation from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Tuesday, May 23rd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $38.00 price objective on shares of Carolina Financial Corporation in a research note on Friday, July 7th. Finally, Stephens reissued a “hold” rating and issued a $34.00 price objective on shares of Carolina Financial Corporation in a research note on Monday, July 24th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $36.00.

Carolina Financial Corporation (NASDAQ:CARO) traded down 0.41% during trading on Friday, reaching $31.75. The company’s stock had a trading volume of 41,357 shares. The firm has a market capitalization of $509.75 million, a price-to-earnings ratio of 17.47 and a beta of 0.45. The stock’s 50-day moving average is $33.13 and its 200 day moving average is $31.07. Carolina Financial Corporation has a 52-week low of $20.05 and a 52-week high of $34.84.

Carolina Financial Corporation (NASDAQ:CARO) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. Carolina Financial Corporation had a return on equity of 12.13% and a net margin of 24.19%. The company had revenue of $27.90 million during the quarter, compared to the consensus estimate of $27.97 million. On average, analysts predict that Carolina Financial Corporation will post $2.00 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Carolina Financial Corporation (NASDAQ:CARO) Downgraded by BidaskClub to “Hold”” was first published by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/08/12/carolina-financial-corporation-nasdaqcaro-downgraded-by-bidaskclub-to-hold.html.

In related news, Director W. Scott Brandon sold 6,557 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $33.98, for a total value of $222,806.86. Following the transaction, the director now directly owns 91,352 shares of the company’s stock, valued at approximately $3,104,140.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael P. Leddy sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $33.00, for a total value of $660,000.00. Following the completion of the transaction, the director now directly owns 79,465 shares in the company, valued at $2,622,345. The disclosure for this sale can be found here. Insiders sold a total of 36,557 shares of company stock worth $1,218,107 over the last three months. 12.23% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northpointe Capital LLC bought a new position in shares of Carolina Financial Corporation during the first quarter worth $6,943,000. Wellington Management Group LLP increased its position in shares of Carolina Financial Corporation by 125.7% in the first quarter. Wellington Management Group LLP now owns 351,328 shares of the financial services provider’s stock worth $10,539,000 after buying an additional 195,699 shares during the last quarter. Mendon Capital Advisors Corp bought a new position in shares of Carolina Financial Corporation during the first quarter worth $5,436,000. RMB Capital Management LLC bought a new position in shares of Carolina Financial Corporation during the first quarter worth $4,944,000. Finally, Opus Capital Group LLC bought a new position in shares of Carolina Financial Corporation during the second quarter worth $4,019,000. 37.76% of the stock is currently owned by institutional investors and hedge funds.

About Carolina Financial Corporation

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.

Analyst Recommendations for Carolina Financial Corporation (NASDAQ:CARO)

Receive News & Ratings for Carolina Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carolina Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.