Carolina Financial (NASDAQ:CARO)‘s stock had its “hold” rating reaffirmed by research analysts at Stephens in a research report issued on Wednesday, December 19th. They currently have a $32.00 price objective on the financial services provider’s stock. Stephens’ price target would suggest a potential upside of 0.57% from the company’s current price.
CARO has been the topic of a number of other research reports. Raymond James lowered their target price on Carolina Financial from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Zacks Investment Research lowered Carolina Financial from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial in a report on Sunday, September 30th. Finally, BidaskClub lowered Carolina Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Carolina Financial presently has a consensus rating of “Hold” and a consensus price target of $35.20.
CARO traded down $0.03 during midday trading on Wednesday, reaching $31.82. The company’s stock had a trading volume of 46,500 shares, compared to its average volume of 72,234. The firm has a market capitalization of $710.74 million, a P/E ratio of 15.60 and a beta of 0.92. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Carolina Financial has a twelve month low of $27.62 and a twelve month high of $45.58.
Carolina Financial (NASDAQ:CARO) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The firm had revenue of $44.18 million for the quarter, compared to analyst estimates of $44.62 million. Carolina Financial had a return on equity of 11.03% and a net margin of 21.18%. As a group, analysts anticipate that Carolina Financial will post 2.78 earnings per share for the current year.
Large investors have recently made changes to their positions in the company. BlueMountain Capital Management LLC grew its holdings in shares of Carolina Financial by 34.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 16,898 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 4,348 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Carolina Financial by 34.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,251 shares of the financial services provider’s stock worth $1,041,000 after buying an additional 6,246 shares during the period. Systematic Financial Management LP lifted its position in shares of Carolina Financial by 10.7% during the 3rd quarter. Systematic Financial Management LP now owns 33,230 shares of the financial services provider’s stock worth $1,253,000 after buying an additional 3,200 shares during the period. BlackRock Inc. lifted its position in shares of Carolina Financial by 19.8% during the 2nd quarter. BlackRock Inc. now owns 1,528,536 shares of the financial services provider’s stock worth $65,603,000 after buying an additional 253,074 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Carolina Financial by 12.0% during the 2nd quarter. Northern Trust Corp now owns 231,071 shares of the financial services provider’s stock worth $9,917,000 after buying an additional 24,749 shares during the period. 54.52% of the stock is currently owned by institutional investors.
About Carolina Financial
Carolina Financial Corp. is a holding company, which engages in the provision of commercial banking services to individuals and small to medium-sized businesses. It operates through the following segments: Community Banking, Wholesale Mortgage Banking, and Other. The Community Banking segment offers traditional banking services.
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