W. Scott Brandon Sells 6,557 Shares of Carolina Financial Corporation (NASDAQ:CARO) Stock

Carolina Financial Corporation (NASDAQ:CARO) Director W. Scott Brandon sold 6,557 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $33.98, for a total value of $222,806.86. Following the completion of the sale, the director now directly owns 91,352 shares of the company’s stock, valued at approximately $3,104,140.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Carolina Financial Corporation (NASDAQ:CARO) traded up 0.502% during trading on Tuesday, hitting $33.658. The company’s stock had a trading volume of 32,502 shares. The company has a market capitalization of $540.38 million, a P/E ratio of 18.524 and a beta of 0.45. Carolina Financial Corporation has a 1-year low of $19.89 and a 1-year high of $34.84. The firm’s 50 day moving average is $32.94 and its 200-day moving average is $30.88.

Carolina Financial Corporation (NASDAQ:CARO) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.09. Carolina Financial Corporation had a return on equity of 13.40% and a net margin of 24.19%. The business had revenue of $27.90 million during the quarter, compared to the consensus estimate of $27.97 million. Analysts forecast that Carolina Financial Corporation will post $2.00 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 14th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.16 annualized dividend and a dividend yield of 0.48%. Carolina Financial Corporation’s dividend payout ratio is presently 8.84%.

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A number of institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its position in shares of Carolina Financial Corporation by 4.4% in the first quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock valued at $202,000 after buying an additional 286 shares during the last quarter. American International Group Inc. boosted its position in shares of Carolina Financial Corporation by 8.7% in the first quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock valued at $192,000 after buying an additional 512 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Carolina Financial Corporation by 19.1% in the second quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock valued at $122,000 after buying an additional 607 shares during the last quarter. Rhumbline Advisers boosted its position in Carolina Financial Corporation by 20.0% in the second quarter. Rhumbline Advisers now owns 14,409 shares of the financial services provider’s stock valued at $466,000 after buying an additional 2,402 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Carolina Financial Corporation by 10.4% in the first quarter. First Trust Advisors LP now owns 36,423 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 3,428 shares in the last quarter. 37.76% of the stock is currently owned by institutional investors and hedge funds.

CARO has been the subject of several analyst reports. Zacks Investment Research upgraded Carolina Financial Corporation from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Friday, April 28th. UBS AG upgraded Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Raymond James Financial, Inc. upgraded Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $33.00 to $38.00 in a report on Tuesday, June 13th. Brean Capital upgraded Carolina Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, BidaskClub upgraded Carolina Financial Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $36.00.

Carolina Financial Corporation Company Profile

Carolina Financial Corporation is a bank holding company. The Company operates through CresCom Bank (the Bank), a state-chartered commercial bank. The Company operates through three segments: community banking, wholesale mortgage banking (mortgage banking) and other. The Company’s community banking segment provides traditional banking services offered through CresCom Bank.

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