Carolina Financial Corp (NASDAQ:CARO) Director W. Scott Brandon sold 3,685 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $35.60, for a total transaction of $131,186.00. Following the completion of the transaction, the director now directly owns 88,973 shares in the company, valued at approximately $3,167,438.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
CARO opened at $36.67 on Friday. The stock has a market cap of $795.06 million, a PE ratio of 12.82 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Carolina Financial Corp has a 52 week low of $27.62 and a 52 week high of $40.50. The business’s fifty day simple moving average is $34.30 and its 200 day simple moving average is $35.23.
Carolina Financial (NASDAQ:CARO) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Carolina Financial had a return on equity of 10.85% and a net margin of 28.60%. The business had revenue of $45.51 million for the quarter, compared to analysts’ expectations of $45.64 million. As a group, equities analysts anticipate that Carolina Financial Corp will post 2.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. Carolina Financial’s dividend payout ratio (DPR) is currently 12.59%.
Large investors have recently made changes to their positions in the company. Aperio Group LLC bought a new position in shares of Carolina Financial during the second quarter valued at about $30,000. Bank of Montreal Can grew its stake in shares of Carolina Financial by 584.6% during the second quarter. Bank of Montreal Can now owns 2,047 shares of the financial services provider’s stock valued at $71,000 after buying an additional 1,748 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Carolina Financial by 62,642.9% during the first quarter. BNP Paribas Arbitrage SA now owns 4,392 shares of the financial services provider’s stock valued at $152,000 after buying an additional 4,385 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Carolina Financial by 12.1% during the second quarter. JPMorgan Chase & Co. now owns 5,749 shares of the financial services provider’s stock valued at $201,000 after buying an additional 621 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Carolina Financial during the second quarter valued at about $282,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on CARO. ValuEngine cut Carolina Financial from a “hold” rating to a “sell” rating in a research note on Saturday, June 1st. Stephens reissued a “hold” rating and issued a $37.00 target price on shares of Carolina Financial in a research note on Monday, July 29th. BidaskClub raised Carolina Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. Zacks Investment Research raised Carolina Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Raymond James raised Carolina Financial from an “outperform” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $38.20.
Carolina Financial Company Profile
Carolina Financial Corporation operates as a holding company for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company operates through three segments: Community Banking, Wholesale Mortgage Banking, and Other. It offers noninterest-bearing demand accounts, interest-bearing demand and savings accounts, money market accounts, time deposits, and certificates of deposit.
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