BidaskClub downgraded shares of Carolina Financial (NASDAQ:CARO) from a buy rating to a hold rating in a report issued on Thursday.

Several other analysts have also recently issued reports on the stock. Brean Capital reiterated a buy rating on shares of Carolina Financial in a research note on Tuesday, December 5th. Zacks Investment Research cut shares of Carolina Financial from a buy rating to a hold rating in a research note on Thursday, November 2nd. Finally, Raymond James Financial reiterated an outperform rating and issued a $42.00 target price (up from $40.00) on shares of Carolina Financial in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $39.00.

Shares of Carolina Financial (CARO) opened at $37.15 on Thursday. The company has a market cap of $782.38, a P/E ratio of 19.25 and a beta of 0.45. 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 $22.20 and a 52 week high of $40.20.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 14th will be issued a $0.05 dividend. This is a positive change from Carolina Financial’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. Carolina Financial’s dividend payout ratio is presently 8.74%.

In related news, Director Robert M. Moise sold 3,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $36.76, for a total transaction of $110,280.00. Following 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 legal filing with the SEC, which is available through the SEC website. 12.23% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC purchased a new stake in Carolina Financial during the 2nd quarter valued at $16,657,000. Northpointe Capital LLC lifted its position in shares of Carolina Financial by 62.1% in the 2nd quarter. Northpointe Capital LLC now owns 375,215 shares of the financial services provider’s stock worth $12,127,000 after purchasing an additional 143,767 shares during the period. Opus Capital Group LLC purchased a new stake in shares of Carolina Financial in the 2nd quarter worth about $4,019,000. John W. Rosenthal Capital Management Inc. purchased a new stake in shares of Carolina Financial in the 3rd quarter worth about $2,878,000. Finally, Vanguard Group Inc. lifted its position in shares of Carolina Financial by 17.4% in the 2nd quarter. Vanguard Group Inc. now owns 523,484 shares of the financial services provider’s stock worth $16,919,000 after purchasing an additional 77,678 shares during the period. 35.49% 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.

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