BidaskClub Downgrades Carolina Financial (CARO) to Hold

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Carolina Financial (NASDAQ:CARO) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Carolina Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial in a research note on Monday, August 6th. Keefe, Bruyette & Woods lowered shares of Carolina Financial from an “outperform” rating to a “market perform” rating and set a $19.00 price objective for the company. in a research note on Monday, July 9th. Finally, ValuEngine raised shares of Carolina Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $39.67.

NASDAQ CARO opened at $41.39 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.08. The firm has a market cap of $947.19 million, a price-to-earnings ratio of 20.29 and a beta of 0.59. Carolina Financial has a 52 week low of $32.94 and a 52 week high of $45.58.

Carolina Financial (NASDAQ:CARO) last posted its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The firm had revenue of $43.93 million for the quarter, compared to analysts’ expectations of $44.04 million. Carolina Financial had a return on equity of 11.11% and a net margin of 19.50%. analysts predict that Carolina Financial will post 2.81 EPS for the current fiscal year.

In other news, VP William A. Gehman III sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $42.25, for a total transaction of $422,500.00. Following the completion of the sale, the vice president now directly owns 26,516 shares of the company’s stock, valued at $1,120,301. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jerry L. Rexroad sold 48,600 shares of the business’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $42.25, for a total transaction of $2,053,350.00. The disclosure for this sale can be found here. Insiders have sold 71,350 shares of company stock valued at $3,014,538 over the last three months. Insiders own 7.76% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG boosted its stake in shares of Carolina Financial by 171.6% during the first quarter. UBS Group AG now owns 2,996 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 1,893 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in shares of Carolina Financial during the first quarter valued at $157,000. Barclays PLC raised its holdings in shares of Carolina Financial by 86.9% in the first quarter. Barclays PLC now owns 5,657 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 2,631 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Carolina Financial in the first quarter valued at about $232,000. Finally, Teton Advisors Inc. bought a new stake in shares of Carolina Financial in the first quarter valued at about $255,000. 53.97% of the stock is owned by hedge funds and other institutional investors.

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 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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Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

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