Carolina Financial Corp (NASDAQ:CARO) Director Jeffery L. Deal sold 1,105 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $37.09, for a total transaction of $40,984.45. Following the completion of the sale, the director now owns 22,296 shares in the company, valued at $826,958.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
NASDAQ CARO opened at $36.54 on Tuesday. Carolina Financial Corp has a 52-week low of $27.62 and a 52-week high of $45.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market cap of $819.14 million, a P/E ratio of 12.78 and a beta of 0.99.
Carolina Financial (NASDAQ:CARO) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Carolina Financial had a return on equity of 10.99% and a net margin of 29.22%. The business had revenue of $43.34 million for the quarter, compared to the consensus estimate of $44.74 million. As a group, sell-side analysts expect that Carolina Financial Corp will post 2.88 earnings per share for the current year.
A number of brokerages recently weighed in on CARO. BidaskClub upgraded shares of Carolina Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Zacks Investment Research upgraded shares of Carolina Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. ValuEngine upgraded shares of Carolina Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Sandler O’Neill downgraded shares of Carolina Financial from a “buy” rating to a “hold” rating and set a $38.00 price target on the stock. in a research report on Friday, April 26th. Finally, Stephens reiterated a “hold” rating on shares of Carolina Financial in a research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Carolina Financial currently has a consensus rating of “Hold” and an average price target of $34.33.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Carolina Financial by 15.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 277,298 shares of the financial services provider’s stock valued at $10,458,000 after purchasing an additional 38,131 shares during the period. Vanguard Group Inc lifted its stake in shares of Carolina Financial by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 994,107 shares of the financial services provider’s stock valued at $37,498,000 after purchasing an additional 12,960 shares during the period. Capital Investment Advisory Services LLC purchased a new position in shares of Carolina Financial in the 4th quarter valued at approximately $126,000. Quantamental Technologies LLC purchased a new position in Carolina Financial during the fourth quarter valued at $47,000. Finally, Teachers Advisors LLC raised its stake in Carolina Financial by 5.4% during the third quarter. Teachers Advisors LLC now owns 39,826 shares of the financial services provider’s stock valued at $1,502,000 after buying an additional 2,049 shares during the last quarter. 54.81% of the stock is owned by institutional investors and hedge funds.
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About Carolina Financial
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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