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.
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.
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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