Carolina Financial Corporation’s (CARO) Outperform Rating Reaffirmed at Raymond James Financial, Inc.

Raymond James Financial, Inc. reiterated their outperform rating on shares of Carolina Financial Corporation (NASDAQ:CARO) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $42.00 price target on the financial services provider’s stock, up from their prior price target of $40.00.

Several other equities analysts have also commented on CARO. BidaskClub raised Carolina Financial Corporation from a hold rating to a buy rating in a report on Thursday, July 6th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $38.00 target price on shares of Carolina Financial Corporation in a report on Friday, July 7th. Stephens reaffirmed a hold rating and set a $34.00 target price on shares of Carolina Financial Corporation in a report on Monday, July 24th. Brean Capital reissued a buy rating on shares of Carolina Financial Corporation in a report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered Carolina Financial Corporation from a strong-buy rating to a hold rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $38.40.

Carolina Financial Corporation (NASDAQ CARO) traded down $0.21 during trading hours on Tuesday, hitting $37.07. The stock had a trading volume of 126,710 shares, compared to its average volume of 144,460. The company has a market capitalization of $599.03 million, a price-to-earnings ratio of 19.31 and a beta of 0.29. Carolina Financial Corporation has a 52 week low of $22.17 and a 52 week high of $39.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.81.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. This is a positive change 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 8.79%.

In related news, Director Jeffery L. Deal sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $33.53, for a total value of $335,300.00. Following the completion of the transaction, the director now directly owns 60,101 shares of the company’s stock, valued at approximately $2,015,186.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.23% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors grew its holdings in Carolina Financial Corporation by 4.4% in the 1st quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock worth $202,000 after buying an additional 286 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Carolina Financial Corporation by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 48,069 shares of the financial services provider’s stock valued at $1,553,000 after purchasing an additional 446 shares in the last quarter. American International Group Inc. boosted 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. Legal & General Group Plc boosted 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. Finally, California State Teachers Retirement System boosted its stake in Carolina Financial Corporation by 3.7% during the 2nd quarter. California State Teachers Retirement System now owns 25,468 shares of the financial services provider’s stock valued at $823,000 after purchasing an additional 900 shares in the last quarter. 43.32% of the stock is owned by institutional investors and hedge funds.

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.

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