Carolina Financial Corp (NASDAQ:CARO) Receives $39.20 Consensus Target Price from Brokerages

Carolina Financial Corp (NASDAQ:CARO) has been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $40.13.

A number of equities analysts have recently commented on the stock. DA Davidson lowered shares of Carolina Financial from a “buy” rating to a “hold” rating and set a $44.65 target price on the stock. in a research report on Monday. BidaskClub lowered shares of Carolina Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Raymond James raised shares of Carolina Financial from an “outperform” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research report on Thursday, August 29th. Zacks Investment Research lowered shares of Carolina Financial from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, ValuEngine lowered shares of Carolina Financial from a “hold” rating to a “sell” rating in a report on Monday, October 21st.

In related news, Director W. Scott Brandon sold 2,507 shares of Carolina Financial stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.39, for a total transaction of $91,229.73. Following the transaction, the director now directly owns 86,466 shares of the company’s stock, valued at $3,146,497.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David L. Morrow sold 2,000 shares of Carolina Financial stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $72,700.00. Following the transaction, the executive vice president now directly owns 117,292 shares in the company, valued at $4,263,564.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,420 shares of company stock worth $879,709. 6.89% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Aperio Group LLC purchased a new position in Carolina Financial in the second quarter worth $30,000. Bank of Montreal Can grew its holdings in Carolina Financial by 584.6% in the second quarter. Bank of Montreal Can now owns 2,047 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 1,748 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Carolina Financial in the third quarter worth $135,000. JPMorgan Chase & Co. grew its holdings in Carolina Financial by 12.1% in the second quarter. JPMorgan Chase & Co. now owns 5,749 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 621 shares during the last quarter. Finally, BB&T Securities LLC purchased a new position in Carolina Financial in the third quarter worth $253,000. 57.99% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CARO traded up $0.35 during trading on Thursday, reaching $42.37. 438,700 shares of the company were exchanged, compared to its average volume of 60,816. The firm has a market capitalization of $858.42 million, a PE ratio of 14.81 and a beta of 1.01. The business’s fifty day simple moving average is $36.84 and its 200-day simple moving average is $35.52. Carolina Financial has a 12-month low of $27.62 and a 12-month high of $42.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85.

Carolina Financial (NASDAQ:CARO) last issued its earnings results on Friday, October 25th. The financial services provider reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. The business had revenue of $48.90 million for the quarter, compared to analyst estimates of $46.60 million. Carolina Financial had a net margin of 28.30% and a return on equity of 11.13%. On average, sell-side analysts anticipate that Carolina Financial will post 2.96 EPS for the current fiscal year.

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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Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

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