Carolina Financial (CARO) Lifted to Buy at BidaskClub

Carolina Financial (NASDAQ:CARO) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other research analysts have also weighed in on the company. Brean Capital reiterated a “buy” rating and set a $46.00 target price on shares of Carolina Financial in a report on Monday, May 7th. ValuEngine lowered Carolina Financial from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Finally, Zacks Investment Research upgraded Carolina Financial from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Thursday, May 3rd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $42.83.

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Carolina Financial opened at $42.64 on Tuesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market cap of $898.72 million, a price-to-earnings ratio of 20.90 and a beta of 0.62. Carolina Financial has a 1-year low of $26.27 and a 1-year high of $43.34.

Carolina Financial (NASDAQ:CARO) last posted its earnings results on Tuesday, May 1st. The financial services provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The firm had revenue of $42.18 million for the quarter, compared to analyst estimates of $42.05 million. Carolina Financial had a return on equity of 11.38% and a net margin of 18.31%. analysts predict that Carolina Financial will post 2.95 earnings per share for the current year.

In other news, VP M. J. Huggins III sold 1,250 shares of the business’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $39.50, for a total value of $49,375.00. Following the sale, the vice president now directly owns 60,389 shares in the company, valued at $2,385,365.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffery L. Deal sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $39.55, for a total value of $158,200.00. Following the completion of the sale, the director now owns 51,848 shares in the company, valued at $2,050,588.40. The disclosure for this sale can be found here. Insiders own 7.76% of the company’s stock.

Institutional investors have recently modified their holdings of the company. JOYN Advisors Inc. bought a new stake in shares of Carolina Financial in the fourth quarter valued at about $321,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Carolina Financial by 59.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 75,588 shares of the financial services provider’s stock valued at $2,809,000 after purchasing an additional 28,122 shares in the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Carolina Financial by 115.7% in the fourth quarter. Penn Capital Management Co. Inc. now owns 76,365 shares of the financial services provider’s stock valued at $2,837,000 after purchasing an additional 40,954 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Carolina Financial in the fourth quarter valued at about $1,560,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Carolina Financial by 30.0% in the fourth quarter. California State Teachers Retirement System now owns 29,843 shares of the financial services provider’s stock valued at $1,109,000 after purchasing an additional 6,886 shares in the last quarter. Institutional investors own 46.77% of the company’s stock.

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.