Carolina Financial (CARO) Upgraded at BidaskClub

BidaskClub upgraded shares of Carolina Financial (NASDAQ:CARO) from a strong sell rating to a sell rating in a research report released on Wednesday morning.

A number of other equities research analysts have also recently weighed in on CARO. Brean Capital restated a buy rating on shares of Carolina Financial in a research note on Sunday, September 30th. Raymond James dropped their price target on Carolina Financial from $45.00 to $40.00 and set a buy rating on the stock in a research note on Friday, October 26th. ValuEngine cut Carolina Financial from a buy rating to a hold rating in a research note on Thursday, August 2nd. Keefe, Bruyette & Woods cut Carolina Financial from an outperform rating to a market perform rating and set a $19.00 price target on the stock. in a research note on Monday, July 9th. Finally, Zacks Investment Research cut Carolina Financial from a hold rating to a sell rating in a research note on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Carolina Financial presently has an average rating of Hold and a consensus price target of $38.50.

Shares of Carolina Financial stock opened at $34.20 on Wednesday. Carolina Financial has a 12-month low of $28.49 and a 12-month high of $45.58. The company has a market cap of $773.30 million, a PE ratio of 12.76 and a beta of 0.76. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08.

Carolina Financial (NASDAQ:CARO) last announced its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Carolina Financial had a return on equity of 11.38% and a net margin of 21.18%. The company had revenue of $44.18 million for the quarter, compared to analysts’ expectations of $44.62 million. As a group, equities analysts expect that Carolina Financial will post 2.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Thursday, December 13th. Carolina Financial’s dividend payout ratio is 13.73%.

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG grew its holdings in Carolina Financial by 171.6% in the 1st quarter. UBS Group AG now owns 2,996 shares of the financial services provider’s stock valued at $117,000 after buying an additional 1,893 shares in the last quarter. Barclays PLC grew its holdings in Carolina Financial by 86.9% in the 1st quarter. Barclays PLC now owns 5,657 shares of the financial services provider’s stock valued at $222,000 after buying an additional 2,631 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Carolina Financial by 99.0% in the 1st quarter. JPMorgan Chase & Co. now owns 8,131 shares of the financial services provider’s stock valued at $320,000 after buying an additional 4,046 shares in the last quarter. Campbell Newman Asset Management Inc. acquired a new position in Carolina Financial in the 2nd quarter valued at $443,000. Finally, Alps Advisors Inc. grew its holdings in Carolina Financial by 18.6% in the 2nd quarter. Alps Advisors Inc. now owns 13,855 shares of the financial services provider’s stock valued at $515,000 after buying an additional 2,177 shares in the last quarter. 54.26% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: How much money do you need to begin day trading?

Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

Receive News & Ratings for Carolina Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carolina Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply