First Trust Advisors LP lowered its holdings in Carolina Financial Corp (NASDAQ:CARO) by 27.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,767 shares of the financial services provider’s stock after selling 9,022 shares during the period. First Trust Advisors LP owned 0.11% of Carolina Financial worth $703,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Quantamental Technologies LLC purchased a new stake in shares of Carolina Financial in the fourth quarter valued at $47,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Carolina Financial in the fourth quarter valued at $126,000. Teton Advisors Inc. grew its position in shares of Carolina Financial by 10.7% in the fourth quarter. Teton Advisors Inc. now owns 8,303 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 803 shares during the period. Nachman Norwood & Parrott Inc purchased a new stake in shares of Carolina Financial in the fourth quarter valued at $346,000. Finally, Campbell Newman Asset Management Inc. grew its position in shares of Carolina Financial by 13.1% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 12,441 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 1,439 shares during the period. 55.29% of the stock is owned by institutional investors and hedge funds.
CARO has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Carolina Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial in a research report on Monday, January 14th. BidaskClub raised Carolina Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, ValuEngine downgraded Carolina Financial from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.60.
CARO stock traded down $0.08 during trading on Friday, reaching $36.50. 56,112 shares of the stock traded hands, compared to its average volume of 37,156. Carolina Financial Corp has a 52-week low of $27.62 and a 52-week high of $45.58. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The company has a market cap of $814.10 million, a PE ratio of 12.76 and a beta of 1.00.
Carolina Financial (NASDAQ:CARO) last posted its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. Carolina Financial had a return on equity of 11.60% and a net margin of 24.72%. The firm had revenue of $43.41 million during the quarter, compared to the consensus estimate of $45.07 million. Equities analysts forecast that Carolina Financial Corp will post 2.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Thursday, March 14th. This is a boost from Carolina Financial’s previous quarterly dividend of $0.07. Carolina Financial’s payout ratio is currently 11.19%.
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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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