Carolina Financial Corp (CARO) Given Consensus Recommendation of “Buy” by Analysts

Shares of Carolina Financial Corp (NASDAQ:CARO) have earned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $42.00.

CARO has been the subject of a number of recent research reports. Brean Capital reissued a “buy” rating and issued a $40.00 target price on shares of Carolina Financial in a research note on Friday, November 10th. ValuEngine lowered Carolina Financial from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Zacks Investment Research raised Carolina Financial from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, January 3rd. Stephens reissued a “hold” rating and issued a $43.00 target price on shares of Carolina Financial in a research note on Friday, January 26th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $42.00 target price (up previously from $40.00) on shares of Carolina Financial in a research note on Tuesday, October 31st.

Shares of Carolina Financial (NASDAQ CARO) opened at $41.90 on Friday. 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 $22.62 and a 52 week high of $41.95. The stock has a market capitalization of $866.96 and a PE ratio of 23.94.

Carolina Financial (NASDAQ:CARO) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $34.33 million. sell-side analysts forecast that Carolina Financial will post 2.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 5th. Carolina Financial’s payout ratio is 11.43%.

In other Carolina Financial news, Director Robert M. Moise sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 119,086 shares of the company’s stock, valued at approximately $4,377,601.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert M. Moise sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $38.84, for a total value of $194,200.00. Following the transaction, the director now directly owns 111,614 shares of the company’s stock, valued at approximately $4,335,087.76. The disclosure for this sale can be found here. Corporate insiders own 12.23% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARO. Advisor Group Inc. raised its position 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 valued at $102,000 after purchasing an additional 2,818 shares during the last quarter. Legal & General Group Plc raised its position 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 valued at $122,000 after purchasing an additional 607 shares during the last quarter. SG Americas Securities LLC bought a new position in Carolina Financial during the 3rd quarter valued at approximately $143,000. Capital Investment Advisory Services LLC bought a new position in Carolina Financial during the 3rd quarter valued at approximately $212,000. Finally, Nationwide Fund Advisors raised its position in 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 purchasing an additional 1,104 shares during the last quarter. 34.43% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

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