Prudential Financial Inc. bought a new stake in Carolina Financial Corporation (NASDAQ:CARO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,540 shares of the financial services provider’s stock, valued at approximately $437,000. Prudential Financial Inc. owned 0.08% of Carolina Financial Corporation as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CARO. Legal & General Group Plc boosted its position in shares of Carolina Financial Corporation by 19.1% in the second quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 607 shares during the period. American International Group Inc. boosted its position in shares of Carolina Financial Corporation by 8.7% in the first quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 512 shares during the period. Nationwide Fund Advisors boosted its position in shares of Carolina Financial Corporation by 4.4% in the first quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 286 shares during the period. Sheets Smith Wealth Management bought a new stake in shares of Carolina Financial Corporation in the second quarter valued at about $285,000. Finally, Trexquant Investment LP bought a new stake in shares of Carolina Financial Corporation in the second quarter valued at about $404,000. 43.39% of the stock is owned by institutional investors.

Carolina Financial Corporation (NASDAQ:CARO) opened at 36.25 on Wednesday. Carolina Financial Corporation has a 1-year low of $22.17 and a 1-year high of $36.56. The company has a 50-day moving average price of $34.49 and a 200-day moving average price of $32.27. The firm has a market cap of $581.99 million, a P/E ratio of 19.95 and a beta of 0.46.

Carolina Financial Corporation (NASDAQ:CARO) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. Carolina Financial Corporation had a return on equity of 12.13% and a net margin of 24.19%. The business had revenue of $27.90 million during the quarter, compared to the consensus estimate of $27.97 million. On average, equities research analysts forecast that Carolina Financial Corporation will post $2.00 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Thursday, September 14th were paid a $0.04 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.16 annualized dividend and a yield of 0.44%. Carolina Financial Corporation’s dividend payout ratio is currently 8.84%.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Carolina Financial Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub raised Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial Corporation in a research note on Wednesday, August 2nd. Stephens reaffirmed a “hold” rating and issued a $34.00 price target on shares of Carolina Financial Corporation in a research note on Monday, July 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $38.00 price target on shares of Carolina Financial Corporation in a research note on Friday, July 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Carolina Financial Corporation has a consensus rating of “Buy” and an average price target of $36.67.

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In other Carolina Financial Corporation news, Director W. Scott Brandon sold 6,557 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $33.98, for a total value of $222,806.86. Following the sale, the director now owns 91,352 shares of the company’s stock, valued at approximately $3,104,140.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffery L. Deal sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $33.53, for a total value of $335,300.00. Following the completion of the sale, the director now directly owns 60,101 shares in the company, valued at approximately $2,015,186.53. The disclosure for this sale can be found here. 12.23% of the stock is owned by company insiders.

Carolina Financial Corporation 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.

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

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