Carolina Financial (CARO) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Carolina Financial (NASDAQ:CARO) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Several other research analysts also recently commented on CARO. ValuEngine downgraded shares of Carolina Financial from a buy rating to a hold rating in a research note on Thursday, August 2nd. Zacks Investment Research raised shares of Carolina Financial from a sell rating to a hold rating in a research note on Monday, November 12th. Finally, Brean Capital reaffirmed a buy rating on shares of Carolina Financial in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Carolina Financial has a consensus rating of Hold and an average price target of $38.50.

Shares of NASDAQ CARO opened at $34.40 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Carolina Financial has a 52 week low of $28.49 and a 52 week high of $45.58. The firm has a market capitalization of $776.41 million, a P/E ratio of 12.84 and a beta of 0.76.

Carolina Financial (NASDAQ:CARO) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Carolina Financial had a net margin of 21.18% and a return on equity of 11.03%. The company had revenue of $44.18 million for the quarter, compared to the consensus estimate of $44.62 million. On average, analysts anticipate that Carolina Financial will post 2.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 14th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, December 13th. Carolina Financial’s dividend payout ratio (DPR) is currently 13.73%.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Carolina Financial by 10.0% in the third quarter. BlackRock Inc. now owns 1,682,139 shares of the financial services provider’s stock valued at $63,450,000 after acquiring an additional 153,603 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Carolina Financial by 7.6% in the third quarter. Janus Henderson Group PLC now owns 1,111,232 shares of the financial services provider’s stock valued at $41,916,000 after acquiring an additional 78,219 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Carolina Financial by 1.3% in the third quarter. Vanguard Group Inc. now owns 994,107 shares of the financial services provider’s stock valued at $37,498,000 after acquiring an additional 12,960 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Carolina Financial by 7.4% in the third quarter. Dimensional Fund Advisors LP now owns 665,286 shares of the financial services provider’s stock valued at $25,094,000 after acquiring an additional 45,777 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Carolina Financial by 6.8% in the third quarter. Renaissance Technologies LLC now owns 519,716 shares of the financial services provider’s stock valued at $19,604,000 after acquiring an additional 33,229 shares in the last quarter. Institutional investors and hedge funds own 54.27% 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 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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Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

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