Spark Investment Management LLC maintained its stake in shares of Carolina Financial Corporation (NASDAQ:CARO) during the second quarter, Holdings Channel reports. The fund owned 28,900 shares of the financial services provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Carolina Financial Corporation were worth $934,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CARO. Russell Investments Group Ltd. acquired a new stake in shares of Carolina Financial Corporation during the fourth quarter valued at approximately $197,000. State Street Corp raised its stake in shares of Carolina Financial Corporation by 17.5% in the fourth quarter. State Street Corp now owns 143,020 shares of the financial services provider’s stock valued at $4,403,000 after buying an additional 21,307 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Carolina Financial Corporation by 172.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 61,115 shares of the financial services provider’s stock valued at $1,882,000 after buying an additional 38,684 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Carolina Financial Corporation during the fourth quarter valued at approximately $227,000. Finally, Nationwide Fund Advisors raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 37.76% of the company’s stock.

Carolina Financial Corporation (NASDAQ CARO) opened at 31.88 on Friday. The firm has a market capitalization of $511.83 million, a P/E ratio of 17.55 and a beta of 0.45. The company has a 50 day moving average price of $33.11 and a 200 day moving average price of $31.06. Carolina Financial Corporation has a 52-week low of $20.05 and a 52-week high of $34.84.

Carolina Financial Corporation (NASDAQ:CARO) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.56 earnings per share for the quarter, beating 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 13.40%. The firm had revenue of $27.90 million during the quarter, compared to analysts’ expectations of $27.97 million. On average, equities analysts forecast that Carolina Financial Corporation will post $2.00 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 14th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.50%. Carolina Financial Corporation’s dividend payout ratio (DPR) is presently 8.84%.

WARNING: “Spark Investment Management LLC Has $934,000 Position in Carolina Financial Corporation (CARO)” was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://www.watchlistnews.com/spark-investment-management-llc-has-934000-position-in-carolina-financial-corporation-caro/1472241.html.

CARO has been the subject of several analyst reports. Zacks Investment Research upgraded Carolina Financial Corporation from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Friday, April 28th. UBS Group AG upgraded Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Raymond James Financial, Inc. raised Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $33.00 to $38.00 in a research report on Tuesday, June 13th. Brean Capital raised Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, BidaskClub raised Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $36.00.

In related news, Director W. Scott Brandon sold 6,557 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $33.98, for a total value of $222,806.86. Following the completion of the sale, the director now directly owns 91,352 shares of the company’s stock, valued at $3,104,140.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffery L. Deal sold 10,000 shares of the business’s stock in a transaction 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 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 three months, insiders sold 36,557 shares of company stock valued at $1,218,107. 12.23% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding CARO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carolina Financial Corporation (NASDAQ:CARO).

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

Receive News & Ratings for Carolina Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carolina Financial Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.