Carolina Financial Corporation’s (CARO) “Buy” Rating Reaffirmed at Brean Capital

Brean Capital reaffirmed their buy rating on shares of Carolina Financial Corporation (NASDAQ:CARO) in a research note published on Monday morning.

Several other equities analysts have also weighed in on CARO. BidaskClub raised shares of Carolina Financial Corporation from a hold rating to a buy rating in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reissued a buy rating and issued a $38.00 price objective on shares of Carolina Financial Corporation in a research report on Friday, July 7th. Stephens reissued a hold rating and issued a $34.00 price objective on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered 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 issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $37.75.

Carolina Financial Corporation (NASDAQ CARO) traded down 5.59% on Monday, hitting $36.85. 187,966 shares of the stock traded hands. The firm’s 50 day moving average is $35.69 and its 200 day moving average is $33.03. The stock has a market cap of $591.63 million, a price-to-earnings ratio of 20.28 and a beta of 0.46. Carolina Financial Corporation has a 52 week low of $22.17 and a 52 week high of $39.60.

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

In related news, Director Jeffery L. Deal sold 10,000 shares of Carolina Financial Corporation 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 sale, 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 can be accessed through this link. 12.23% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in shares of Carolina Financial Corporation by 826.4% in the 2nd quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 2,818 shares in the last quarter. Legal & General Group Plc increased its stake in 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 valued at $122,000 after purchasing an additional 607 shares in the last quarter. American International Group Inc. increased its stake in 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 valued at $192,000 after purchasing an additional 512 shares in the last quarter. Nationwide Fund Advisors increased its stake in Carolina Financial Corporation by 4.4% during the 1st quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 286 shares in the last quarter. Finally, Affinity Investment Advisors LLC bought a new stake in Carolina Financial Corporation during the 3rd quarter valued at $254,000. Institutional investors own 43.32% of the company’s stock.

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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