Carolina Financial (NASDAQ:CARO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $41.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.86% from the stock’s current price.

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. “

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Carolina Financial from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial in a research note on Monday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $42.00 price objective (up from $40.00) on shares of Carolina Financial in a research note on Tuesday, October 31st. Finally, ValuEngine cut Carolina Financial from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $39.00.

Shares of Carolina Financial (NASDAQ:CARO) traded up $0.27 during midday trading on Wednesday, hitting $37.32. The stock had a trading volume of 68,553 shares, compared to its average volume of 88,250. Carolina Financial has a twelve month low of $22.20 and a twelve month high of $40.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $785.32, a PE ratio of 20.51 and a beta of 0.29.

In related news, Director Robert M. Moise sold 3,000 shares of Carolina Financial stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.76, for a total value of $110,280.00. Following the completion of the transaction, the director now directly 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 is available at the SEC website. Company insiders own 12.23% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its holdings in Carolina Financial by 826.4% in the second quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 2,818 shares during the period. Legal & General Group Plc boosted its holdings in Carolina Financial by 19.1% in the second quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 607 shares during the period. SG Americas Securities LLC purchased a new position in Carolina Financial in the third quarter valued at $143,000. Capital Investment Advisory Services LLC purchased a new position in Carolina Financial in the third quarter valued at $212,000. Finally, Affinity Investment Advisors LLC purchased a new position in Carolina Financial in the third quarter valued at $254,000. Hedge funds and other institutional investors own 35.49% of the company’s stock.

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About Carolina Financial

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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