John W. Rosenthal Capital Management Inc. Sells 6,000 Shares of Carolina Financial Corp (NASDAQ:CARO)

John W. Rosenthal Capital Management Inc. reduced its position in shares of Carolina Financial Corp (NASDAQ:CARO) by 7.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 74,268 shares of the financial services provider’s stock after selling 6,000 shares during the quarter. Carolina Financial comprises approximately 2.5% of John W. Rosenthal Capital Management Inc.’s holdings, making the stock its 17th largest holding. John W. Rosenthal Capital Management Inc. owned 0.33% of Carolina Financial worth $2,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in Carolina Financial in the fourth quarter worth about $47,000. PNC Financial Services Group Inc. increased its position in shares of Carolina Financial by 37.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,009 shares of the financial services provider’s stock valued at $89,000 after buying an additional 819 shares in the last quarter. Advisor Group Inc. increased its position in shares of Carolina Financial by 34.3% in the fourth quarter. Advisor Group Inc. now owns 3,765 shares of the financial services provider’s stock valued at $111,000 after buying an additional 961 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new stake in shares of Carolina Financial in the fourth quarter valued at approximately $126,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Carolina Financial by 62,642.9% in the first quarter. BNP Paribas Arbitrage SA now owns 4,392 shares of the financial services provider’s stock valued at $152,000 after buying an additional 4,385 shares in the last quarter. Hedge funds and other institutional investors own 55.98% of the company’s stock.

A number of research firms have recently commented on CARO. BidaskClub upgraded Carolina Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Zacks Investment Research upgraded Carolina Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Finally, ValuEngine upgraded Carolina Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $34.33.

In related news, Director Jeffery L. Deal sold 1,105 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $37.09, for a total value of $40,984.45. Following the completion of the sale, the director now directly owns 22,296 shares of the company’s stock, valued at $826,958.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffery L. Deal sold 2,087 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $36.70, for a total value of $76,592.90. Following the completion of the sale, the director now directly owns 21,590 shares of the company’s stock, valued at $792,353. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,192 shares of company stock worth $568,477. 6.89% of the stock is currently owned by insiders.

CARO stock traded up $0.21 during midday trading on Friday, hitting $35.09. 36,974 shares of the stock were exchanged, compared to its average volume of 52,978. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day moving average is $35.17. The stock has a market capitalization of $783.03 million, a PE ratio of 12.27 and a beta of 1.03. Carolina Financial Corp has a fifty-two week low of $27.62 and a fifty-two week high of $45.49.

Carolina Financial (NASDAQ:CARO) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.02). Carolina Financial had a net margin of 29.22% and a return on equity of 10.99%. The business had revenue of $43.34 million during the quarter, compared to analysts’ expectations of $44.74 million. Analysts predict that Carolina Financial Corp will post 2.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, June 13th. This is a boost from Carolina Financial’s previous quarterly dividend of $0.08. Carolina Financial’s payout ratio is currently 12.59%.

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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Institutional Ownership by Quarter for Carolina Financial (NASDAQ:CARO)

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