Carolina Financial Corp (NASDAQ:CARO) Director Robert M. Moise sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $32.92, for a total value of $181,060.00. Following the completion of the transaction, the director now directly owns 98,743 shares of the company’s stock, valued at approximately $3,250,619.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of CARO opened at $34.67 on Friday. Carolina Financial Corp has a 1 year low of $27.62 and a 1 year high of $45.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $782.50 million, a PE ratio of 12.12 and a beta of 1.01.
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Carolina Financial (NASDAQ:CARO) last issued its earnings results on Thursday, January 24th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.07. Carolina Financial had a return on equity of 11.84% and a net margin of 24.72%. The business had revenue of $43.41 million during the quarter, compared to analysts’ expectations of $45.07 million. As a group, equities research analysts expect that Carolina Financial Corp will post 2.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a $0.08 dividend. The ex-dividend date is Thursday, March 14th. This is a boost from Carolina Financial’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. Carolina Financial’s dividend payout ratio is presently 9.79%.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Carolina Financial by 10.0% in the 3rd quarter. BlackRock Inc. now owns 1,682,139 shares of the financial services provider’s stock worth $63,450,000 after buying an additional 153,603 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Carolina Financial by 7.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,111,232 shares of the financial services provider’s stock worth $41,916,000 after buying an additional 78,219 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 worth $37,498,000 after buying an additional 12,960 shares in the last quarter. Vanguard Group Inc raised its holdings 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 worth $37,498,000 after buying an additional 12,960 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Carolina Financial by 7.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 665,286 shares of the financial services provider’s stock worth $25,094,000 after buying an additional 45,777 shares in the last quarter. 54.44% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on CARO. ValuEngine cut Carolina Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. BidaskClub cut Carolina Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Zacks Investment Research raised Carolina Financial from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $41.00 price target on shares of Carolina Financial in a report on Friday, January 25th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $33.60.
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About Carolina Financial
Carolina Financial Corp. is a holding company, which engages in the provision of commercial banking services to individuals and small to medium-sized businesses. It operates through the following segments: Community Banking, Wholesale Mortgage Banking, and Other. The Community Banking segment offers traditional banking services.
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