Insider Selling: Carolina Financial Corp (CARO) President Sells 5,000 Shares of Stock

Carolina Financial Corp (NASDAQ:CARO) President M. J. Huggins III sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $35.87, for a total value of $179,350.00. Following the transaction, the president now directly owns 61,711 shares in the company, valued at $2,213,573.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Carolina Financial stock traded up $0.25 during mid-day trading on Thursday, hitting $36.45. The company had a trading volume of 265 shares, compared to its average volume of 45,418. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Carolina Financial Corp has a 12 month low of $27.62 and a 12 month high of $45.58. The company has a market capitalization of $804.52 million, a price-to-earnings ratio of 12.71 and a beta of 1.01.

Carolina Financial (NASDAQ:CARO) last released its earnings results on Thursday, January 24th. The financial services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.07. Carolina Financial had a return on equity of 11.60% and a net margin of 24.72%. The business had revenue of $43.41 million for the quarter, compared to the consensus estimate of $45.07 million. On average, equities research analysts predict that Carolina Financial Corp will post 2.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.08 per share. This is an increase from Carolina Financial’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, March 14th. Carolina Financial’s dividend payout ratio (DPR) is presently 9.79%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teton Advisors Inc. lifted its stake in Carolina Financial by 10.7% during the fourth quarter. Teton Advisors Inc. now owns 8,303 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 803 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Carolina Financial by 37.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,009 shares of the financial services provider’s stock worth $89,000 after buying an additional 819 shares during the period. Advisor Group Inc. lifted its position in Carolina Financial by 34.3% in the fourth quarter. Advisor Group Inc. now owns 3,765 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 961 shares during the period. Campbell Newman Asset Management Inc. lifted its position in Carolina Financial by 13.1% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 12,441 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 1,439 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in Carolina Financial in the fourth quarter valued at about $47,000. Institutional investors own 54.63% of the company’s stock.

Several equities analysts have recently issued reports on CARO shares. BidaskClub raised Carolina Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Zacks Investment Research raised Carolina Financial from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, January 15th. Brean Capital reissued a “buy” rating on shares of Carolina Financial in a research note on Monday, January 14th. ValuEngine raised Carolina Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Stephens reaffirmed a “hold” rating and issued a $32.00 price target on shares of Carolina Financial in a research note on Wednesday, December 19th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Carolina Financial presently has an average rating of “Hold” and an average price target of $33.60.

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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 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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Insider Buying and Selling by Quarter for Carolina Financial (NASDAQ:CARO)

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