Carolina Financial (NASDAQ:CARO) released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02), Bloomberg Earnings reports. The firm had revenue of $43.34 million for the quarter, compared to the consensus estimate of $44.74 million. Carolina Financial had a net margin of 29.22% and a return on equity of 10.99%.
Shares of Carolina Financial stock traded down $0.67 during trading on Friday, reaching $36.70. 37,057 shares of the stock traded hands, compared to its average volume of 51,851. The firm has a market cap of $818.96 million, a price-to-earnings ratio of 12.83 and a beta of 0.99. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Carolina Financial has a 52-week low of $27.62 and a 52-week high of $45.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.09 per share. This is a positive change from Carolina Financial’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. Carolina Financial’s dividend payout ratio (DPR) is presently 11.19%.
In related news, President M. J. Huggins III sold 5,000 shares of Carolina Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $35.87, for a total value of $179,350.00. Following the completion of the transaction, the president now owns 61,711 shares in the company, valued at $2,213,573.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David L. Morrow sold 2,000 shares of Carolina Financial stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $38.12, for a total value of $76,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,000 shares of company stock valued at $630,250. Company insiders own 6.89% of the company’s stock.
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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