Zacks Investment Research upgraded shares of Carolina Financial (NASDAQ:CARO) from a sell rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Carolina Financial Corporation is the holding company of CresCom Bank. It operates through three reportable segments: Community Banking, Wholesale Mortgage Banking, and other. Its deposit products include checking accounts, commercial accounts, savings accounts, retirement accounts, and other time deposits. The company’s loan portfolio comprises loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, residential mortgage loans, residential lot loans, home equity loans, and consumer loans. The company also offers mortgage banking services comprising correspondent lending and loan servicing; and cash management services. Carolina Financial Corporation is based in Charleston, South Carolina. “

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Carolina Financial from a hold rating to a sell rating in a report on Saturday, June 1st. Raymond James set a $39.00 price target on Carolina Financial and gave the company a buy rating in a report on Monday, July 15th. Stephens reiterated a hold rating and set a $37.00 price target on shares of Carolina Financial in a report on Monday, July 29th. Sandler O’Neill downgraded Carolina Financial from a buy rating to a hold rating and set a $38.00 price target on the stock. in a report on Friday, April 26th. Finally, BidaskClub upgraded Carolina Financial from a sell rating to a hold rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Carolina Financial has an average rating of Hold and a consensus target price of $38.20.

Shares of CARO stock opened at $34.23 on Tuesday. Carolina Financial has a 12 month low of $27.62 and a 12 month high of $42.45. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $34.68 and its two-hundred day moving average is $35.45. The company has a market cap of $761.88 million, a PE ratio of 12.17 and a beta of 1.00.

Carolina Financial (NASDAQ:CARO) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Carolina Financial had a return on equity of 10.85% and a net margin of 28.60%. The company had revenue of $45.51 million for the quarter, compared to the consensus estimate of $45.64 million. As a group, equities analysts expect that Carolina Financial will post 2.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.05%. Carolina Financial’s dividend payout ratio (DPR) is presently 12.59%.

In other news, Director Jeffery L. Deal sold 2,087 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $36.70, for a total value of $76,592.90. Following the sale, the director now owns 21,590 shares in the company, valued at $792,353. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.89% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Carolina Financial by 7.5% in the fourth quarter. Bank of America Corp DE now owns 114,554 shares of the financial services provider’s stock worth $3,389,000 after acquiring an additional 8,004 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Carolina Financial by 390.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,753 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 5,375 shares during the last quarter. Banc Funds Co. LLC grew its stake in shares of Carolina Financial by 11.5% in the first quarter. Banc Funds Co. LLC now owns 186,580 shares of the financial services provider’s stock worth $6,454,000 after acquiring an additional 19,264 shares during the last quarter. Millennium Management LLC grew its stake in shares of Carolina Financial by 8.1% in the fourth quarter. Millennium Management LLC now owns 114,054 shares of the financial services provider’s stock worth $3,375,000 after acquiring an additional 8,554 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Carolina Financial in the fourth quarter worth $277,000. Institutional investors and hedge funds own 56.60% 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 noninterest-bearing demand accounts, interest-bearing demand and savings accounts, money market accounts, time deposits, and certificates of deposit.

Further Reading: What is the Ex-Dividend Date in Investing?

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