Swiss National Bank Purchases New Holdings in Carolina Financial Corp (CARO)
Swiss National Bank purchased a new stake in Carolina Financial Corp (NASDAQ:CARO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 34,000 shares of the financial services provider’s stock, valued at approximately $1,263,000.
Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Carolina Financial in the third quarter valued at about $143,000. Teacher Retirement System of Texas bought a new position in Carolina Financial in the fourth quarter valued at about $251,000. Goldman Sachs Group Inc. bought a new position in Carolina Financial in the second quarter valued at about $273,000. Citadel Advisors LLC bought a new position in Carolina Financial in the third quarter valued at about $296,000. Finally, Alps Advisors Inc. bought a new position in Carolina Financial in the third quarter valued at about $497,000. Institutional investors and hedge funds own 44.89% of the company’s stock.
Several equities analysts recently issued reports on CARO shares. Brean Capital reiterated a “buy” rating on shares of Carolina Financial in a report on Tuesday, December 5th. BidaskClub cut Carolina Financial from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Stephens reiterated a “hold” rating and issued a $43.00 price target on shares of Carolina Financial in a report on Friday, January 26th. ValuEngine cut Carolina Financial from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Finally, Zacks Investment Research cut Carolina Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $41.67.
Carolina Financial (NASDAQ:CARO) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. Carolina Financial had a return on equity of 12.15% and a net margin of 22.22%. The firm had revenue of $37.50 million for the quarter, compared to analysts’ expectations of $34.33 million. sell-side analysts expect that Carolina Financial Corp will post 2.7 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, March 5th. Carolina Financial’s dividend payout ratio (DPR) is currently 11.43%.
In other Carolina Financial news, Director Robert M. Moise sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $38.84, for a total transaction of $194,200.00. Following the transaction, the director now owns 111,614 shares in the company, valued at $4,335,087.76. The sale was disclosed in a document filed with the SEC, which is available through this link. 12.23% of the stock is currently owned by company insiders.
Carolina Financial 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.
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