Carolina Financial Corporation (NASDAQ:CARO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Carolina Financial Corporation is the holding company of CresCom Bank. It operates through three reportable segments: Community Banking, Wholesale Mortgage Banking, and other. Its deposit products include checking accounts, commercial accounts, savings accounts, retirement accounts, and other time deposits. The company’s loan portfolio comprises loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, residential mortgage loans, residential lot loans, home equity loans, and consumer loans. The company also offers mortgage banking services comprising correspondent lending and loan servicing; and cash management services. Carolina Financial Corporation is based in Charleston, South Carolina. “

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $38.00 target price on shares of Carolina Financial Corporation in a research report on Friday, July 7th. BidaskClub upgraded Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stephens restated a “hold” rating and set a $34.00 target price on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Raymond James Financial, Inc. restated an “outperform” rating and set a $42.00 target price (up from $40.00) on shares of Carolina Financial Corporation in a research report on Tuesday. Finally, Brean Capital restated a “buy” rating on shares of Carolina Financial Corporation in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Carolina Financial Corporation presently has a consensus rating of “Buy” and an average price target of $38.40.

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In other news, Director Jeffery L. Deal sold 10,000 shares of Carolina Financial Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $33.53, for a total transaction of $335,300.00. Following the transaction, the director now owns 60,101 shares in the company, valued at approximately $2,015,186.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.23% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CARO. Janus Henderson Group PLC bought a new position in shares of Carolina Financial Corporation during the 2nd quarter valued at about $16,657,000. Northpointe Capital LLC lifted its stake in Carolina Financial Corporation by 62.1% in the 2nd quarter. Northpointe Capital LLC now owns 375,215 shares of the financial services provider’s stock valued at $12,127,000 after acquiring an additional 143,767 shares in the last quarter. Opus Capital Group LLC bought a new stake in Carolina Financial Corporation in the 2nd quarter valued at approximately $4,019,000. Vanguard Group Inc. lifted its stake in Carolina Financial Corporation by 17.4% in the 2nd quarter. Vanguard Group Inc. now owns 523,484 shares of the financial services provider’s stock valued at $16,919,000 after acquiring an additional 77,678 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Carolina Financial Corporation by 93.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 145,214 shares of the financial services provider’s stock valued at $5,210,000 after acquiring an additional 70,214 shares in the last quarter. Institutional investors and hedge funds own 43.32% of the company’s stock.

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.

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Analyst Recommendations for Carolina Financial Corporation (NASDAQ:CARO)

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