Carolina Financial Corp (CARO) Announces $0.07 Quarterly Dividend

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Carolina Financial Corp (NASDAQ:CARO) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Friday, December 14th will be given a dividend of 0.07 per share by the financial services provider on Friday, January 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, December 13th.

Carolina Financial has increased its dividend payment by an average of 85.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Carolina Financial has a dividend payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carolina Financial to earn $2.76 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 10.1%.

CARO stock opened at $33.05 on Friday. Carolina Financial has a 12 month low of $28.49 and a 12 month high of $45.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $749.33 million, a P/E ratio of 12.39 and a beta of 0.76.

Carolina Financial (NASDAQ:CARO) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Carolina Financial had a net margin of 21.18% and a return on equity of 11.03%. The firm had revenue of $44.18 million during the quarter, compared to analysts’ expectations of $44.62 million. As a group, research analysts expect that Carolina Financial will post 2.78 earnings per share for the current year.

A number of equities analysts recently commented on the stock. BidaskClub raised shares of Carolina Financial from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Zacks Investment Research raised shares of Carolina Financial from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial in a research note on Monday, August 27th. Finally, ValuEngine cut shares of Carolina Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.50.

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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 checking accounts, commercial accounts, savings accounts, money market accounts, retirement accounts, longer-term certificates of deposit, noninterest-bearing demand accounts, and interest-bearing demand accounts to individuals, businesses, associations, organizations, and governmental authorities.

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Dividend History for Carolina Financial (NASDAQ:CARO)

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