Dimensional Fund Advisors LP boosted its stake in shares of Carolina Financial Corporation (NASDAQ:CARO) by 79.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,434 shares of the financial services provider’s stock after buying an additional 48,319 shares during the period. Dimensional Fund Advisors LP owned about 0.68% of Carolina Financial Corporation worth $3,283,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American International Group Inc. raised its position in Carolina Financial Corporation by 8.7% in the first quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock valued at $192,000 after buying an additional 512 shares during the last quarter. Nationwide Fund Advisors raised its position in Carolina Financial Corporation by 4.4% in the first quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock valued at $202,000 after buying an additional 286 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in Carolina Financial Corporation during the first quarter valued at about $444,000. Spark Investment Management LLC raised its position in Carolina Financial Corporation by 144.9% in the first quarter. Spark Investment Management LLC now owns 28,900 shares of the financial services provider’s stock valued at $867,000 after buying an additional 17,100 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Carolina Financial Corporation by 10.4% in the first quarter. First Trust Advisors LP now owns 36,423 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 3,428 shares during the last quarter. Institutional investors and hedge funds own 43.50% of the company’s stock.

Carolina Financial Corporation (CARO) traded up 0.29% during midday trading on Thursday, reaching $34.28. 16,703 shares of the company’s stock traded hands. Carolina Financial Corporation has a 52-week low of $21.09 and a 52-week high of $34.84. The company’s 50-day moving average price is $33.31 and its 200-day moving average price is $31.27. The stock has a market cap of $550.37 million, a P/E ratio of 18.87 and a beta of 0.45.

Carolina Financial Corporation (NASDAQ:CARO) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. The firm had revenue of $27.90 million for the quarter, compared to analysts’ expectations of $27.97 million. Carolina Financial Corporation had a net margin of 24.19% and a return on equity of 12.13%. On average, equities analysts predict that Carolina Financial Corporation will post $2.00 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 14th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Wednesday, September 13th. Carolina Financial Corporation’s dividend payout ratio (DPR) is presently 8.84%.

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Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, May 16th. BidaskClub raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Brean Capital raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $38.00 price target on shares of Carolina Financial Corporation in a research note on Friday, July 7th. Finally, Stephens reaffirmed a “hold” rating and issued a $34.00 price target on shares of Carolina Financial Corporation in a research note on Monday, July 24th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Carolina Financial Corporation currently has a consensus rating of “Buy” and an average price target of $36.00.

In related news, Director Michael P. Leddy sold 20,000 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $33.00, for a total value of $660,000.00. Following the completion of the sale, the director now directly owns 79,465 shares of the company’s stock, valued at $2,622,345. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffery L. Deal sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $33.53, for a total transaction of $335,300.00. Following the completion of the sale, the director now directly owns 60,101 shares of the company’s stock, valued at $2,015,186.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,557 shares of company stock valued at $1,218,107. 12.23% of the stock is owned by insiders.

About Carolina Financial Corporation

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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Institutional Ownership by Quarter for Carolina Financial Corporation (NASDAQ:CARO)

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