United Services Automobile Association Has $3.68 Million Stake in Carolina Financial Corp (CARO)

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United Services Automobile Association raised its stake in Carolina Financial Corp (NASDAQ:CARO) by 20.0% in the 2nd quarter, Holdings Channel reports. The firm owned 85,748 shares of the financial services provider’s stock after buying an additional 14,300 shares during the quarter. United Services Automobile Association’s holdings in Carolina Financial were worth $3,680,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Northern Trust Corp raised its stake in shares of Carolina Financial by 0.6% in the first quarter. Northern Trust Corp now owns 206,322 shares of the financial services provider’s stock worth $8,105,000 after purchasing an additional 1,301 shares during the last quarter. Summit Global Investments grew its holdings in shares of Carolina Financial by 10.5% in the second quarter. Summit Global Investments now owns 15,800 shares of the financial services provider’s stock valued at $678,000 after acquiring an additional 1,500 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Carolina Financial by 9.5% in the second quarter. Rhumbline Advisers now owns 17,837 shares of the financial services provider’s stock valued at $766,000 after acquiring an additional 1,550 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Carolina Financial by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 172,058 shares of the financial services provider’s stock valued at $6,758,000 after acquiring an additional 1,855 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Carolina Financial by 171.6% in the first quarter. UBS Group AG now owns 2,996 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 1,893 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on CARO. ValuEngine lowered Carolina Financial from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial in a report on Monday, August 6th. Zacks Investment Research lowered Carolina Financial from a “hold” rating to a “sell” rating in a report on Monday, August 6th. BidaskClub raised Carolina Financial from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Finally, Keefe, Bruyette & Woods lowered Carolina Financial from an “outperform” rating to a “market perform” rating and set a $19.00 target price for the company. in a report on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.67.

CARO stock opened at $40.94 on Wednesday. The company has a market capitalization of $930.46 million, a PE ratio of 20.07 and a beta of 0.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.81. Carolina Financial Corp has a 12-month low of $32.94 and a 12-month high of $45.58.

Carolina Financial (NASDAQ:CARO) last released its earnings results on Tuesday, July 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.01). Carolina Financial had a net margin of 19.50% and a return on equity of 11.11%. The business had revenue of $43.93 million during the quarter, compared to the consensus estimate of $44.04 million. analysts anticipate that Carolina Financial Corp will post 2.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Thursday, September 20th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.68%. This is a positive change from Carolina Financial’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, September 19th. Carolina Financial’s dividend payout ratio is 11.76%.

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

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