Carolina Financial Corporation (NASDAQ:CARO) has been assigned a $37.00 price target by equities research analysts at Brean Capital in a note issued to investors on Friday. The firm currently has a “buy” rating on the financial services provider’s stock. Brean Capital’s price objective indicates a potential upside of 2.95% from the company’s current price.

Several other equities research analysts have also recently commented on CARO. BidaskClub raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $38.00 target price on shares of Carolina Financial Corporation in a research report on Friday, July 7th. Stephens reaffirmed a “hold” rating and issued a $34.00 target price on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Finally, 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. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $36.75.

Carolina Financial Corporation (NASDAQ CARO) traded up 0.03% during midday trading on Friday, reaching $35.95. 69,332 shares of the company’s stock traded hands. Carolina Financial Corporation has a 52-week low of $22.17 and a 52-week high of $36.56. The company’s 50-day moving average price is $34.90 and its 200-day moving average price is $32.54. The stock has a market cap of $577.18 million, a P/E ratio of 19.79 and a beta of 0.46.

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

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

A number of hedge funds and other institutional investors have recently modified their holdings of CARO. Advisor Group Inc. lifted its position in Carolina Financial Corporation by 826.4% during the 2nd quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 2,818 shares during the period. Legal & General Group Plc lifted its position in Carolina Financial Corporation by 19.1% during the 2nd 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. lifted its position in Carolina Financial Corporation by 8.7% during the 1st 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 lifted its position in Carolina Financial Corporation by 4.4% during the 1st 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. Finally, Chicago Equity Partners LLC purchased a new position in Carolina Financial Corporation during the 2nd quarter valued at about $235,000. 43.39% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Carolina Financial Corporation (NASDAQ:CARO)

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