Carolina Financial Corporation (NASDAQ:CARO) has earned an average recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $36.67.

CARO has been the subject of a number of recent research reports. UBS AG raised shares of Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. BidaskClub downgraded Carolina Financial Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered Carolina Financial Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial Corporation in a research note on Wednesday, August 2nd. Finally, Stephens reiterated a “hold” rating and set a $34.00 target price on shares of Carolina Financial Corporation in a report on Monday, July 24th.

Shares of Carolina Financial Corporation (CARO) traded down 0.52% during trading on Friday, reaching $36.22. The company had a trading volume of 70,958 shares. The firm’s 50 day moving average price is $33.91 and its 200 day moving average price is $31.97. Carolina Financial Corporation has a 12 month low of $22.00 and a 12 month high of $36.56. The firm has a market capitalization of $581.51 million, a P/E ratio of 19.93 and a beta of 0.46.

Carolina Financial Corporation (NASDAQ:CARO) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. Carolina Financial Corporation had a net margin of 24.19% and a return on equity of 12.13%. The company had revenue of $27.90 million during the quarter, compared to analysts’ expectations of $27.97 million. Equities analysts predict that Carolina Financial Corporation will post $2.00 EPS for the current year.

The company also recently announced 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 annualized dividend and a yield of 0.44%. The ex-dividend date is Wednesday, September 13th. Carolina Financial Corporation’s payout ratio is 8.84%.

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In other news, Director Jeffery L. Deal sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $33.53, for a total value of $335,300.00. Following the completion of the transaction, the director now owns 60,101 shares of the company’s stock, valued at $2,015,186.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director W. Scott Brandon sold 6,557 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.98, for a total transaction of $222,806.86. Following the completion of the transaction, the director now directly owns 91,352 shares of the company’s stock, valued at approximately $3,104,140.96. The disclosure for this sale can be found here. 12.23% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors grew its stake in Carolina Financial Corporation by 4.4% in the 1st quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 286 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Carolina Financial Corporation by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 48,069 shares of the financial services provider’s stock worth $1,553,000 after purchasing an additional 446 shares during the period. American International Group Inc. lifted its stake in shares of Carolina Financial Corporation by 8.7% during the 1st quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 512 shares during the period. Legal & General Group Plc lifted its stake in shares of Carolina Financial Corporation by 19.1% during the 2nd quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 607 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Carolina Financial Corporation by 3.7% during the 2nd quarter. California State Teachers Retirement System now owns 25,468 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 900 shares during the period. 43.39% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Carolina Financial Corporation (NASDAQ:CARO)

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