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

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. “

A number of other equities research analysts have also issued reports on CARO. Brean Capital set a $37.00 price target on Carolina Financial and gave the stock a “buy” rating in a research note on Friday, October 20th. Raymond James Financial reissued an “outperform” rating and set a $42.00 price target (up from $40.00) on shares of Carolina Financial in a research note on Tuesday, October 31st. BidaskClub lowered Carolina Financial from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. ValuEngine lowered Carolina Financial from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Finally, Sandler O’Neill set a $44.00 price target on Carolina Financial and gave the stock a “buy” rating in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $39.83.

Carolina Financial (NASDAQ CARO) traded up $0.38 during trading hours on Tuesday, hitting $38.10. The stock had a trading volume of 70,307 shares, compared to its average volume of 86,633. Carolina Financial has a 1-year low of $22.34 and a 1-year 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 company has a market cap of $797.84, a price-to-earnings ratio of 20.93 and a beta of 0.29.

In other Carolina Financial news, Director Robert M. Moise sold 3,000 shares of the firm’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 transaction, the director now directly owns 119,086 shares in the company, valued at approximately $4,377,601.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.23% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARO. Advisor Group Inc. increased its holdings in Carolina Financial by 826.4% during the 2nd quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 2,818 shares during the period. Legal & General Group Plc increased its holdings in Carolina Financial by 19.1% during the 2nd quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 607 shares during the period. SG Americas Securities LLC purchased a new position in Carolina Financial during the 3rd quarter worth $143,000. Capital Investment Advisory Services LLC purchased a new position in Carolina Financial during the 3rd quarter worth $212,000. Finally, Chicago Equity Partners LLC purchased a new position in Carolina Financial during the 2nd quarter worth $235,000. Institutional investors own 35.49% of the company’s stock.

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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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