Carolina Financial (NASDAQ:CARO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, January 10th. The firm presently has a $43.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.98% from the company’s previous close.
According to Zacks, “Carolina Financial Corporation is the holding company of CresCom Bank. It operates through three reportable segments: Community Banking, Wholesale Mortgage Banking, and other. Its deposit products include checking accounts, commercial accounts, savings accounts, retirement accounts, and other time deposits. The company’s loan portfolio comprises loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, residential mortgage loans, residential lot loans, home equity loans, and consumer loans. The company also offers mortgage banking services comprising correspondent lending and loan servicing; and cash management services. Carolina Financial Corporation is based in Charleston, South Carolina. “
Other equities research analysts also recently issued reports about the company. Brean Capital restated a “buy” rating on shares of Carolina Financial in a research note on Monday, October 30th. Sandler O’Neill set a $44.00 price objective on Carolina Financial and gave the company a “buy” rating in a research note on Thursday, January 4th. ValuEngine lowered Carolina Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. BidaskClub lowered Carolina Financial from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $42.00 target price (up previously from $40.00) on shares of Carolina Financial in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Carolina Financial presently has a consensus rating of “Buy” and a consensus target price of $40.17.
Carolina Financial (NASDAQ:CARO) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Carolina Financial had a return on equity of 11.46% and a net margin of 24.80%. sell-side analysts predict that Carolina Financial will post 1.87 EPS for the current fiscal year.
In other Carolina Financial news, Director Robert M. Moise sold 3,000 shares of Carolina Financial stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.76, for a total transaction of $110,280.00. Following the sale, the director now owns 119,086 shares of the company’s stock, valued at approximately $4,377,601.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.23% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp raised its stake in shares of Carolina Financial by 25.3% in the 2nd quarter. Northern Trust Corp now owns 156,102 shares of the financial services provider’s stock worth $5,045,000 after buying an additional 31,514 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Carolina Financial by 17.4% in the 2nd quarter. Vanguard Group Inc. now owns 523,484 shares of the financial services provider’s stock worth $16,919,000 after acquiring an additional 77,678 shares during the last quarter. Lincoln National Corp grew its holdings in shares of Carolina Financial by 142.5% in the 3rd quarter. Lincoln National Corp now owns 18,637 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 10,953 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Carolina Financial by 32.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 145,366 shares of the financial services provider’s stock worth $4,698,000 after acquiring an additional 35,932 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Carolina Financial in the 2nd quarter worth $437,000. 35.07% of the stock is currently owned by institutional investors.
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Carolina Financial Company Profile
Carolina Financial Corporation is a bank holding company. The Company operates through CresCom Bank (the Bank), a state-chartered commercial bank. The Company operates through three segments: community banking, wholesale mortgage banking (mortgage banking) and other. The Company’s community banking segment provides traditional banking services offered through CresCom Bank.
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