Carolina Financial Corp (CARO) Receives Consensus Rating of “Buy” from Brokerages
Carolina Financial Corp (NASDAQ:CARO) has earned a consensus rating of “Buy” from the eight research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $38.00.
CARO has been the topic of a number of research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 price target (up from $40.00) on shares of Carolina Financial in a report on Tuesday, October 31st. Brean Capital reaffirmed a “buy” rating and set a $40.00 price target on shares of Carolina Financial in a report on Friday, November 10th. BidaskClub raised Carolina Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Zacks Investment Research downgraded Carolina Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd.
Carolina Financial (NASDAQ:CARO) opened at $36.77 on Thursday. The stock has a market capitalization of $774.60, a price-to-earnings ratio of 19.06 and a beta of 0.45. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.19. Carolina Financial has a 1-year low of $22.20 and a 1-year high of $40.20.
In related news, Director Robert M. Moise sold 3,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.76, for a total transaction of $110,280.00. Following the completion of the sale, the director now owns 119,086 shares in the company, valued at $4,377,601.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.23% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CARO. Janus Henderson Group PLC purchased a new stake in Carolina Financial during the second quarter valued at $16,657,000. Opus Capital Group LLC purchased a new stake in Carolina Financial during the second quarter valued at $4,019,000. John W. Rosenthal Capital Management Inc. purchased a new stake in Carolina Financial during the third quarter valued at $2,878,000. Vanguard Group Inc. increased its position in Carolina Financial by 17.4% during the second 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 during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in Carolina Financial by 93.6% during the third 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 during the last quarter. Institutional investors own 35.49% of the company’s stock.
Carolina Financial Company Profile
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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