Carolina Financial Corp (CARO) Shares Sold by Opus Capital Group LLC
Opus Capital Group LLC reduced its holdings in shares of Carolina Financial Corp (NASDAQ:CARO) by 12.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 82,451 shares of the financial services provider’s stock after selling 11,449 shares during the period. Opus Capital Group LLC’s holdings in Carolina Financial were worth $3,063,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of Carolina Financial by 25.3% during the 2nd quarter. Northern Trust Corp now owns 156,102 shares of the financial services provider’s stock valued at $5,045,000 after buying an additional 31,514 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Carolina Financial by 17.4% during the 2nd quarter. Vanguard Group Inc. now owns 523,484 shares of the financial services provider’s stock valued at $16,919,000 after buying an additional 77,678 shares during the last quarter. Lincoln National Corp boosted its stake in shares of Carolina Financial by 142.5% during the 3rd quarter. Lincoln National Corp now owns 18,637 shares of the financial services provider’s stock valued at $669,000 after buying an additional 10,953 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Carolina Financial by 32.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 145,366 shares of the financial services provider’s stock valued at $4,698,000 after buying an additional 35,932 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Carolina Financial during the 2nd quarter valued at approximately $437,000. Institutional investors own 34.47% of the company’s stock.
Several research firms recently issued reports on CARO. Brean Capital reissued a “buy” rating on shares of Carolina Financial in a research report on Monday, January 29th. Stephens reissued a “hold” rating and set a $43.00 price target on shares of Carolina Financial in a research report on Friday, January 26th. Zacks Investment Research raised Carolina Financial from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, January 10th. Sandler O’Neill set a $44.00 price target on Carolina Financial and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, ValuEngine lowered Carolina Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.67.
Carolina Financial (NASDAQ:CARO) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.57 earnings per share 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 for the quarter, compared to analyst estimates of $34.33 million. equities analysts anticipate that Carolina Financial Corp will post 2.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 5th. Carolina Financial’s dividend payout ratio is presently 11.43%.
In other Carolina Financial news, Director Robert M. Moise sold 5,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $38.84, for a total value of $194,200.00. Following the sale, the director now directly owns 111,614 shares of the company’s stock, valued at $4,335,087.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.23% of the stock is owned by company insiders.
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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.
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