Carolina Financial (NASDAQ:CARO) Stock Rating Lowered by BidaskClub

Carolina Financial (NASDAQ:CARO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

CARO has been the topic of several other reports. Zacks Investment Research lowered shares of Carolina Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Raymond James lowered shares of Carolina Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, December 20th. DA Davidson lowered shares of Carolina Financial from a “buy” rating to a “hold” rating and set a $44.65 price objective on the stock. in a research note on Monday, November 18th. Stephens restated a “hold” rating and issued a $38.00 price objective on shares of Carolina Financial in a research note on Monday, October 28th. Finally, ValuEngine lowered shares of Carolina Financial from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.44.

NASDAQ:CARO traded up $0.17 during midday trading on Tuesday, hitting $42.59. 229 shares of the company were exchanged, compared to its average volume of 122,126. The company has a fifty day simple moving average of $42.45 and a 200 day simple moving average of $37.49. Carolina Financial has a fifty-two week low of $32.27 and a fifty-two week high of $43.85. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $929.15 million, a PE ratio of 14.87 and a beta of 1.00.

Carolina Financial (NASDAQ:CARO) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Carolina Financial had a net margin of 28.30% and a return on equity of 11.13%. The firm had revenue of $48.90 million for the quarter, compared to analyst estimates of $46.60 million. As a group, equities research analysts expect that Carolina Financial will post 2.97 EPS for the current year.

In other Carolina Financial news, Director Ian T. Clark sold 3,228 shares of Carolina Financial stock in a transaction on Monday, October 28th. The shares were sold at an average price of $71.20, for a total value of $229,833.60. Also, EVP David L. Morrow sold 2,000 shares of Carolina Financial stock in a transaction on Monday, October 28th. The shares were sold at an average price of $36.38, for a total transaction of $72,760.00. Following the completion of the transaction, the executive vice president now owns 107,292 shares in the company, valued at $3,903,282.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,178 shares of company stock worth $709,069. 6.89% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its holdings in shares of Carolina Financial by 1,627.8% in the third quarter. Millennium Management LLC now owns 142,088 shares of the financial services provider’s stock valued at $5,049,000 after acquiring an additional 151,388 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Carolina Financial during the second quarter worth about $2,702,000. California Public Employees Retirement System boosted its holdings in Carolina Financial by 84.6% during the third quarter. California Public Employees Retirement System now owns 45,295 shares of the financial services provider’s stock worth $1,610,000 after buying an additional 20,755 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Carolina Financial by 66.3% during the second quarter. Victory Capital Management Inc. now owns 45,750 shares of the financial services provider’s stock worth $1,605,000 after buying an additional 18,245 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Carolina Financial by 19.9% during the second quarter. Wells Fargo & Company MN now owns 98,090 shares of the financial services provider’s stock worth $3,442,000 after buying an additional 16,300 shares in the last quarter. Institutional investors own 58.83% of the company’s stock.

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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