Raymond James Financial, Inc. reissued their outperform rating on shares of Carolina Financial Corporation (NASDAQ:CARO) in a research note published on Tuesday morning, Marketbeat reports. They currently have a $42.00 target price on the financial services provider’s stock, up from their previous target price of $40.00.

CARO has been the subject of several other reports. Brean Capital set a $37.00 target price on shares of Carolina Financial Corporation and gave the company a buy rating in a research report on Friday, October 20th. BidaskClub upgraded shares of Carolina Financial Corporation from a hold rating to a buy rating in a research report on Saturday, August 26th. Keefe, Bruyette & Woods restated a buy rating and issued a $38.00 target price on shares of Carolina Financial Corporation in a research report on Friday, July 7th. Stephens restated a hold rating and issued a $34.00 target price on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Finally, Zacks Investment Research cut shares of Carolina Financial Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $38.40.

Shares of Carolina Financial Corporation (CARO) traded down $0.21 during trading hours on Tuesday, hitting $37.07. 126,646 shares of the stock traded hands, compared to its average volume of 171,692. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $602.10 million, a price-to-earnings ratio of 19.31 and a beta of 0.45.

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The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This is a boost from Carolina Financial Corporation’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. Carolina Financial Corporation’s payout ratio is presently 8.74%.

In related news, Director Jeffery L. Deal sold 10,000 shares of the company’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 transaction of $335,300.00. Following the completion of the transaction, the director now directly owns 60,101 shares in the company, valued at approximately $2,015,186.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.23% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in CARO. Janus Henderson Group PLC acquired a new position in Carolina Financial Corporation during the 2nd quarter worth approximately $16,657,000. Wellington Management Group LLP increased its position in Carolina Financial Corporation by 125.7% during the 1st quarter. Wellington Management Group LLP now owns 351,328 shares of the financial services provider’s stock worth $10,539,000 after purchasing an additional 195,699 shares in the last quarter. Northpointe Capital LLC increased its position in Carolina Financial Corporation by 62.1% during 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 in the last quarter. Opus Capital Group LLC acquired a new position in Carolina Financial Corporation during the 2nd quarter worth approximately $4,019,000. Finally, Vanguard Group Inc. increased its position in Carolina Financial Corporation by 17.4% during 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 in the last quarter. Institutional investors and hedge funds own 43.32% of the company’s stock.

Carolina Financial Corporation 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.

Analyst Recommendations for Carolina Financial Corporation (NASDAQ:CARO)

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