Tributary Capital Management LLC Has $13.79 Million Holdings in Carolina Financial Corp (CARO)

Tributary Capital Management LLC grew its position in Carolina Financial Corp (NASDAQ:CARO) by 42.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 365,570 shares of the financial services provider’s stock after purchasing an additional 109,034 shares during the period. Tributary Capital Management LLC owned about 1.62% of Carolina Financial worth $13,789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Group AG raised its holdings in Carolina Financial by 171.6% in the first quarter. UBS Group AG now owns 2,996 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 1,893 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in Carolina Financial in the first quarter worth $157,000. Barclays PLC raised its holdings in Carolina Financial by 86.9% in the first quarter. Barclays PLC now owns 5,657 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 2,631 shares during the period. Citadel Advisors LLC acquired a new stake in Carolina Financial in the first quarter worth $232,000. Finally, JPMorgan Chase & Co. raised its holdings in Carolina Financial by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 8,131 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 4,046 shares during the period. Institutional investors own 53.90% of the company’s stock.

Shares of CARO stock opened at $34.11 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.08. Carolina Financial Corp has a 12-month low of $33.99 and a 12-month high of $45.58. The firm has a market cap of $785.97 million, a PE ratio of 13.85 and a beta of 0.57.

Carolina Financial (NASDAQ:CARO) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.01). Carolina Financial had a return on equity of 11.11% and a net margin of 19.50%. The company had revenue of $43.93 million for the quarter, compared to the consensus estimate of $44.04 million. On average, research analysts anticipate that Carolina Financial Corp will post 2.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Thursday, September 20th were given a dividend of $0.07 per share. This is an increase from Carolina Financial’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, September 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.82%. Carolina Financial’s dividend payout ratio is currently 13.73%.

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered shares of Carolina Financial from an “outperform” rating to a “market perform” rating and set a $19.00 target price on the stock. in a report on Monday, July 9th. ValuEngine raised shares of Carolina Financial from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Brean Capital reissued a “buy” rating on shares of Carolina Financial in a research report on Tuesday, July 10th. BidaskClub downgraded shares of Carolina Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Zacks Investment Research downgraded shares of Carolina Financial from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Carolina Financial has a consensus rating of “Hold” and an average price target of $39.67.

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 checking accounts, commercial accounts, savings accounts, money market accounts, retirement accounts, longer-term certificates of deposit, noninterest-bearing demand accounts, and interest-bearing demand accounts to individuals, businesses, associations, organizations, and governmental authorities.

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

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