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

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

Several other research analysts also recently weighed in on CARO. ValuEngine downgraded shares of Carolina Financial from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Zacks Investment Research downgraded shares of Carolina Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. DA Davidson downgraded shares of Carolina Financial from a “buy” rating to a “hold” rating and set a $44.65 price target for the company. in a research report on Monday, November 18th. Raymond James downgraded shares of Carolina Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, December 20th. Finally, Stephens restated a “hold” rating and set a $38.00 price target on shares of Carolina Financial in a research report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.44.

Shares of CARO traded up $0.17 during trading hours on Tuesday, reaching $42.59. 229 shares of the company traded hands, compared to its average volume of 122,126. The stock has a market capitalization of $929.15 million, a P/E ratio of 14.87 and a beta of 1.00. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. Carolina Financial has a 12-month low of $32.27 and a 12-month high of $43.85. The business has a fifty day moving average price of $42.45 and a 200-day moving average price of $37.49.

Carolina Financial (NASDAQ:CARO) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.78 EPS for the quarter, beating the 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 company had revenue of $48.90 million for the quarter, compared to analyst estimates of $46.60 million. As a group, research analysts predict that Carolina Financial will post 2.97 EPS for the current fiscal year.

In other Carolina Financial news, Director Ian T. Clark sold 3,228 shares of the stock in a transaction dated 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 5,200 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.00, for a total transaction of $218,400.00. Following the completion of the sale, the executive vice president now owns 102,092 shares of the company’s stock, valued at approximately $4,287,864. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,178 shares of company stock valued at $709,069. 6.89% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CARO. Bank of Montreal Can grew its stake in shares of Carolina Financial by 584.6% in the 2nd quarter. Bank of Montreal Can now owns 2,047 shares of the financial services provider’s stock valued at $71,000 after buying an additional 1,748 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Carolina Financial during the 3rd quarter worth approximately $135,000. JPMorgan Chase & Co. boosted its position in shares of Carolina Financial by 12.1% during the 2nd 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. BB&T Securities LLC purchased a new position in shares of Carolina Financial during the 3rd quarter worth approximately $253,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Carolina Financial during the 2nd quarter worth approximately $282,000. 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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