Carolina Financial Corp (NASDAQ:CARO) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Friday, December 14th will be given a dividend of 0.07 per share by the financial services provider on Friday, January 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, December 13th.
Carolina Financial has increased its dividend payment by an average of 85.7% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Carolina Financial has a dividend payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Carolina Financial to earn $2.76 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 10.1%.
CARO opened at $33.05 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Carolina Financial has a fifty-two week low of $28.49 and a fifty-two week high of $45.58. The firm has a market cap of $749.33 million, a P/E ratio of 12.39 and a beta of 0.76.
A number of research analysts recently weighed in on the stock. Brean Capital restated a “buy” rating on shares of Carolina Financial in a research note on Monday, August 27th. BidaskClub cut shares of Carolina Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Zacks Investment Research downgraded shares of Carolina Financial from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Finally, ValuEngine downgraded shares of Carolina Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Carolina Financial has an average rating of “Hold” and a consensus target price of $38.50.
ILLEGAL ACTIVITY WARNING: “Carolina Financial Corp (CARO) To Go Ex-Dividend on December 13th” was published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.com-unik.info/2018/12/08/carolina-financial-corp-caro-to-go-ex-dividend-on-december-13th.html.
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 checking accounts, commercial accounts, savings accounts, money market accounts, retirement accounts, longer-term certificates of deposit, noninterest-bearing demand accounts, and interest-bearing demand accounts to individuals, businesses, associations, organizations, and governmental authorities.
Read More: Benefits of owning preferred stock
Receive News & Ratings for Carolina Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carolina Financial and related companies with MarketBeat.com's FREE daily email newsletter.