First Trust Advisors LP trimmed its position in shares of Carolina Financial Corp (NASDAQ:CARO) by 38.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,789 shares of the financial services provider’s stock after selling 20,512 shares during the period. First Trust Advisors LP owned about 0.15% of Carolina Financial worth $1,237,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CARO. BlackRock Inc. raised its holdings in shares of Carolina Financial by 19.8% during the 2nd quarter. BlackRock Inc. now owns 1,528,536 shares of the financial services provider’s stock valued at $65,603,000 after buying an additional 253,074 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Carolina Financial by 20.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,033,013 shares of the financial services provider’s stock valued at $44,337,000 after buying an additional 171,965 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Carolina Financial by 199.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 239,167 shares of the financial services provider’s stock valued at $10,265,000 after buying an additional 159,279 shares in the last quarter. Tributary Capital Management LLC raised its holdings in shares of Carolina Financial by 42.5% during the 3rd quarter. Tributary Capital Management LLC now owns 365,570 shares of the financial services provider’s stock valued at $13,789,000 after buying an additional 109,034 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Carolina Financial by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 619,509 shares of the financial services provider’s stock valued at $26,590,000 after buying an additional 106,927 shares in the last quarter. 54.52% of the stock is currently owned by institutional investors.
Shares of Carolina Financial stock opened at $33.05 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $738.27 million, a price-to-earnings ratio of 16.20 and a beta of 0.76. Carolina Financial Corp has a one year low of $28.49 and a one year high of $45.58.
Carolina Financial (NASDAQ:CARO) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $44.18 million for the quarter, compared to analysts’ expectations of $44.62 million. Carolina Financial had a return on equity of 11.03% and a net margin of 21.18%. As a group, equities analysts expect that Carolina Financial Corp will post 2.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.85%. Carolina Financial’s dividend payout ratio (DPR) is currently 13.73%.
A number of equities analysts recently weighed in on the company. BidaskClub raised Carolina Financial from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Zacks Investment Research raised Carolina Financial from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial in a research note on Monday, August 27th. Finally, ValuEngine cut Carolina Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $38.50.
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Carolina Financial Company Profile
Carolina Financial Corporation operates as a holding company for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company operates through three segments: Community Banking, Wholesale Mortgage Banking, and Other. It offers checking accounts, commercial accounts, savings accounts, money market accounts, retirement accounts, longer-term certificates of deposit, noninterest-bearing demand accounts, and interest-bearing demand accounts to individuals, businesses, associations, organizations, and governmental authorities.
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