Alberta Investment Management Corp Purchases Shares of 92,595 Carolina Financial Corp (NASDAQ:CARO)

Alberta Investment Management Corp acquired a new stake in shares of Carolina Financial Corp (NASDAQ:CARO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 92,595 shares of the financial services provider’s stock, valued at approximately $2,395,000.

Several other large investors also recently made changes to their positions in the company. Synovus Financial Corp grew its stake in shares of Carolina Financial by 4.0% during the fourth quarter. Synovus Financial Corp now owns 9,138 shares of the financial services provider’s stock valued at $396,000 after buying an additional 349 shares during the last quarter. Swiss National Bank grew its stake in shares of Carolina Financial by 1.3% during the first quarter. Swiss National Bank now owns 45,600 shares of the financial services provider’s stock valued at $1,180,000 after buying an additional 600 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Carolina Financial by 1.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 37,765 shares of the financial services provider’s stock valued at $1,633,000 after buying an additional 652 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Carolina Financial by 2.0% during the fourth quarter. Rhumbline Advisers now owns 33,360 shares of the financial services provider’s stock valued at $1,442,000 after buying an additional 655 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of Carolina Financial by 5.6% during the first quarter. American International Group Inc. now owns 13,838 shares of the financial services provider’s stock valued at $358,000 after buying an additional 731 shares during the last quarter. 53.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on CARO. DA Davidson raised Carolina Financial from a “neutral” rating to a “buy” rating and set a $31.65 price objective on the stock in a research note on Monday, March 23rd. BidaskClub raised Carolina Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. ValuEngine cut Carolina Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, TheStreet lowered Carolina Financial from a “b-” rating to a “c+” rating in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.16.

CARO opened at $32.88 on Friday. The business has a 50 day simple moving average of $30.36 and a two-hundred day simple moving average of $35.90. The firm has a market capitalization of $816.28 million, a price-to-earnings ratio of 11.74 and a beta of 1.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. Carolina Financial Corp has a one year low of $20.72 and a one year high of $43.85.

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.

See Also: Liquidity

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Institutional Ownership by Quarter for Carolina Financial (NASDAQ:CARO)

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