Sterling Capital Management LLC acquired a new position in shares of Carolina Financial Corp (NASDAQ:CARO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,463 shares of the financial services provider’s stock, valued at approximately $806,000. Sterling Capital Management LLC owned 0.11% of Carolina Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CARO. Vanguard Group Inc. boosted its position in shares of Carolina Financial by 14.5% during the first quarter. Vanguard Group Inc. now owns 445,806 shares of the financial services provider’s stock worth $13,374,000 after buying an additional 56,618 shares during the period. Dimensional Fund Advisors LP lifted its position in Carolina Financial by 79.1% in the first quarter. Dimensional Fund Advisors LP now owns 109,434 shares of the financial services provider’s stock worth $3,283,000 after purchasing an additional 48,319 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Carolina Financial by 35.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the financial services provider’s stock worth $636,000 after purchasing an additional 5,600 shares during the period. Rhumbline Advisers lifted its position in Carolina Financial by 20.0% in the second quarter. Rhumbline Advisers now owns 14,409 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 2,402 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Carolina Financial by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 49,859 shares of the financial services provider’s stock worth $1,612,000 after purchasing an additional 4,952 shares during the period. Institutional investors and hedge funds own 35.49% of the company’s stock.

In other news, Director Robert M. Moise sold 3,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.76, for a total transaction of $110,280.00. Following the completion of the sale, the director now owns 119,086 shares in the company, valued at approximately $4,377,601.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.23% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on CARO shares. BidaskClub upgraded Carolina Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded Carolina Financial from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Wednesday, November 1st. Brean Capital restated a “buy” rating on shares of Carolina Financial in a research report on Monday, October 30th. ValuEngine downgraded Carolina Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Raymond James Financial restated an “outperform” rating and issued a $42.00 target price (up from $40.00) on shares of Carolina Financial in a research report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $39.00.

Shares of Carolina Financial Corp (NASDAQ:CARO) opened at $37.25 on Thursday. Carolina Financial Corp has a 52-week low of $22.20 and a 52-week high of $40.20. The firm has a market capitalization of $787.03, a P/E ratio of 19.36 and a beta of 0.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.80.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Wednesday, December 13th. This is an increase from Carolina Financial’s previous quarterly dividend of $0.04. Carolina Financial’s dividend payout ratio is 10.93%.

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About Carolina Financial

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 (NASDAQ:CARO)

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