Carolina Financial (NASDAQ:CARO) Stock Crosses Above 200 Day Moving Average of $0.00

Carolina Financial Corp (NASDAQ:CARO)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $35.76. Carolina Financial shares last traded at $35.76, with a volume of 652 shares changing hands.

CARO has been the topic of several research analyst reports. Sandler O’Neill downgraded Carolina Financial from a “buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a research report on Friday, April 26th. Zacks Investment Research raised Carolina Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. ValuEngine downgraded Carolina Financial from a “hold” rating to a “sell” rating in a research report on Saturday, June 1st. BidaskClub raised Carolina Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Stephens reiterated a “hold” rating on shares of Carolina Financial in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $34.33.

The stock has a market cap of $783.03 million, a price-to-earnings ratio of 12.49 and a beta of 1.03. The company has a fifty day simple moving average of $35.17. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Carolina Financial (NASDAQ:CARO) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.02). Carolina Financial had a return on equity of 10.99% and a net margin of 29.22%. The firm had revenue of $43.34 million during the quarter, compared to analysts’ expectations of $44.74 million. On average, research analysts expect that Carolina Financial Corp will post 2.85 EPS for the current year.

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

In related news, Director Jeffery L. Deal sold 1,105 shares of the company’s stock in a transaction on Friday, May 17th. The stock was 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 directly owns 22,296 shares in the company, valued at approximately $826,958.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David L. Morrow sold 6,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $37.65, for a total value of $225,900.00. The disclosure for this sale can be found here. Insiders sold a total of 15,192 shares of company stock valued at $568,477 over the last quarter. Company insiders own 6.89% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CARO. Mendon Capital Advisors Corp lifted its stake in shares of Carolina Financial by 46.6% during the 4th quarter. Mendon Capital Advisors Corp now owns 637,438 shares of the financial services provider’s stock worth $18,862,000 after purchasing an additional 202,497 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Carolina Financial by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 759,329 shares of the financial services provider’s stock worth $22,469,000 after purchasing an additional 94,043 shares during the last quarter. Kennedy Capital Management Inc. lifted its stake in shares of Carolina Financial by 596.2% during the 1st quarter. Kennedy Capital Management Inc. now owns 108,319 shares of the financial services provider’s stock worth $3,747,000 after purchasing an additional 92,760 shares during the last quarter. Tributary Capital Management LLC lifted its stake in shares of Carolina Financial by 14.5% during the 1st quarter. Tributary Capital Management LLC now owns 522,860 shares of the financial services provider’s stock worth $18,086,000 after purchasing an additional 66,236 shares during the last quarter. Finally, Penn Capital Management Co. Inc. lifted its stake in shares of Carolina Financial by 23.7% during the 4th quarter. Penn Capital Management Co. Inc. now owns 161,907 shares of the financial services provider’s stock worth $4,791,000 after purchasing an additional 31,023 shares during the last quarter. Hedge funds and other institutional investors own 55.98% of the company’s stock.

Carolina Financial Company Profile (NASDAQ:CARO)

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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