Carolina Financial Corp (NASDAQ:CARO) EVP Sells $71,420.00 in Stock

Carolina Financial Corp (NASDAQ:CARO) EVP David L. Morrow sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $35.71, for a total value of $71,420.00. Following the completion of the sale, the executive vice president now directly owns 109,292 shares in the company, valued at $3,902,817.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ CARO traded down $0.05 during mid-day trading on Monday, hitting $35.62. The company had a trading volume of 4,234 shares, compared to its average volume of 46,748. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50-day simple moving average is $35.32 and its 200-day simple moving average is $35.22. Carolina Financial Corp has a 12 month low of $27.62 and a 12 month high of $38.40. The firm has a market cap of $794.37 million, a P/E ratio of 12.47 and a beta of 1.00.

Carolina Financial (NASDAQ:CARO) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Carolina Financial had a net margin of 28.60% and a return on equity of 10.85%. The business had revenue of $45.51 million during the quarter, compared to analysts’ expectations of $45.64 million. As a group, sell-side analysts predict that Carolina Financial Corp will post 2.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, September 12th. Carolina Financial’s dividend payout ratio is 12.59%.

Several brokerages have recently issued reports on CARO. BidaskClub raised Carolina Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Zacks Investment Research downgraded Carolina Financial from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Raymond James raised Carolina Financial from an “outperform” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research report on Thursday, August 29th. Stephens reaffirmed a “hold” rating and issued a $37.00 price target on shares of Carolina Financial in a research report on Monday, July 29th. Finally, DA Davidson began coverage on Carolina Financial in a research report on Wednesday, October 9th. They issued a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.50.

Institutional investors and hedge funds have recently made changes to their positions in the business. Aperio Group LLC bought a new position in Carolina Financial during the second quarter worth about $30,000. Bank of Montreal Can lifted its stake in Carolina Financial by 584.6% during the second quarter. Bank of Montreal Can now owns 2,047 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 1,748 shares during the period. JPMorgan Chase & Co. lifted its stake in Carolina Financial by 12.1% during the second quarter. JPMorgan Chase & Co. now owns 5,749 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 621 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Carolina Financial during the second quarter worth approximately $282,000. Finally, Mesirow Financial Investment Management Inc. increased its holdings in shares of Carolina Financial by 12.0% during the second quarter. Mesirow Financial Investment Management Inc. now owns 10,749 shares of the financial services provider’s stock worth $377,000 after buying an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 56.36% of the company’s stock.

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 noninterest-bearing demand accounts, interest-bearing demand and savings accounts, money market accounts, time deposits, and certificates of deposit.

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