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.
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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