Carolina Financial’s (CARO) Hold Rating Reaffirmed at Stephens

Carolina Financial (NASDAQ:CARO)‘s stock had its “hold” rating reissued by research analysts at Stephens in a research report issued to clients and investors on Friday. They presently have a $43.00 target price on the financial services provider’s stock. Stephens’ price target indicates a potential upside of 9.81% from the company’s current price.

Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Carolina Financial from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Wednesday, November 1st. Brean Capital reissued a “buy” rating on shares of Carolina Financial in a research report on Monday, October 30th. Sandler O’Neill set a $44.00 target price on Carolina Financial and gave the company a “buy” rating in a research report on Thursday, January 4th. ValuEngine downgraded Carolina Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, BidaskClub downgraded Carolina Financial from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Three 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 stock. The company has an average rating of “Buy” and an average price target of $41.67.

Carolina Financial (NASDAQ:CARO) traded up $0.20 during midday trading on Friday, hitting $39.16. The company had a trading volume of 134,603 shares, compared to its average volume of 83,272. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.80 and a current ratio of 0.81. Carolina Financial has a 52-week low of $28.14 and a 52-week high of $39.60. The firm has a market cap of $819.03, a P/E ratio of 22.38 and a beta of 0.45.

Carolina Financial (NASDAQ:CARO) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. Carolina Financial had a return on equity of 12.15% and a net margin of 22.22%. The firm had revenue of $37.50 million for the quarter, compared to the consensus estimate of $34.33 million. sell-side analysts predict that Carolina Financial will post 2.68 earnings per share for the current year.

In other Carolina Financial news, Director Robert M. Moise sold 3,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $36.76, for a total transaction of $110,280.00. Following the sale, the director now directly owns 119,086 shares of the company’s stock, valued at approximately $4,377,601.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.23% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. grew its position in shares of Carolina Financial by 826.4% during the 2nd quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 2,818 shares during the period. Legal & General Group Plc grew its position in shares of 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 valued at $122,000 after acquiring an additional 607 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Carolina Financial during the 3rd quarter valued at about $143,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Carolina Financial during the 3rd quarter valued at about $212,000. Finally, Nationwide Fund Advisors grew its position in shares of Carolina Financial by 16.4% during the 2nd quarter. Nationwide Fund Advisors now owns 7,827 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 1,104 shares during the period. 35.07% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

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