Carolina Financial Corp to Issue Quarterly Dividend of $0.09 (NASDAQ:CARO)

Carolina Financial Corp (NASDAQ:CARO) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.09 per share by the financial services provider on Friday, October 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, September 12th.

Carolina Financial has raised its dividend by an average of 24.2% annually over the last three years and has raised its dividend every year for the last 4 years. Carolina Financial has a dividend payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Carolina Financial to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 12.3%.

Carolina Financial stock traded up $0.55 during trading hours on Tuesday, reaching $35.76. The stock had a trading volume of 13,975 shares, compared to its average volume of 47,223. The company has a fifty day simple moving average of $34.21 and a 200-day simple moving average of $35.24. Carolina Financial has a 52 week low of $27.62 and a 52 week high of $41.72. The stock has a market cap of $763.66 million, a PE ratio of 12.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.85.

Carolina Financial (NASDAQ:CARO) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $45.51 million during the quarter, compared to the consensus estimate of $45.64 million. Carolina Financial had a net margin of 28.60% and a return on equity of 10.85%. Research analysts predict that Carolina Financial will post 2.83 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on CARO. ValuEngine downgraded Carolina Financial from a “hold” rating to a “sell” rating in a report on Saturday, June 1st. BidaskClub upgraded Carolina Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. Raymond James upgraded Carolina Financial from an “outperform” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a report on Thursday, August 29th. Zacks Investment Research upgraded Carolina Financial from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Stephens reissued a “hold” rating and set a $37.00 target price on shares of Carolina Financial in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Carolina Financial presently has an average rating of “Hold” and an average target price of $38.20.

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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Dividend History for Carolina Financial (NASDAQ:CARO)

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