Analysts Set Carolina Financial Corporation (CARO) PT at $38.50

Carolina Financial Corporation (NASDAQ:CARO) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $38.50.

Several research firms have recently commented on CARO. Raymond James Financial, Inc. reissued an “outperform” rating and set a $42.00 target price (up from $40.00) on shares of Carolina Financial Corporation in a research report on Tuesday, October 31st. Brean Capital reissued a “buy” rating on shares of Carolina Financial Corporation in a research report on Monday, October 30th. Zacks Investment Research downgraded shares of Carolina Financial Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, BidaskClub raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th.

In other Carolina Financial Corporation news, Director Robert M. Moise sold 3,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $36.76, for a total value of $110,280.00. Following the completion of the sale, the director now directly owns 119,086 shares of the company’s stock, valued at approximately $4,377,601.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.23% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its stake in Carolina Financial Corporation by 0.9% in the second quarter. Wells Fargo & Company MN now owns 48,069 shares of the financial services provider’s stock valued at $1,553,000 after acquiring an additional 446 shares during the last quarter. American International Group Inc. boosted its stake 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 acquiring an additional 512 shares during the last quarter. Legal & General Group Plc boosted its stake in Carolina Financial Corporation by 19.1% in the second quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 607 shares during the last quarter. California State Teachers Retirement System boosted its stake in Carolina Financial Corporation by 3.7% in the second quarter. California State Teachers Retirement System now owns 25,468 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 900 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Carolina Financial Corporation by 16.4% in the second quarter. Nationwide Fund Advisors now owns 7,827 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 1,104 shares during the last quarter. Hedge funds and other institutional investors own 33.06% of the company’s stock.

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Carolina Financial Corporation (NASDAQ CARO) traded down $0.24 during trading hours on Friday, hitting $37.68. 74,245 shares of the stock traded hands, compared to its average volume of 25,517. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $787.66, a P/E ratio of 19.38 and a beta of 0.45. Carolina Financial Corporation has a one year low of $20.19 and a one year high of $40.20.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. This is an increase from Carolina Financial Corporation’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, December 13th. Carolina Financial Corporation’s dividend payout ratio is presently 8.74%.

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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