Raymond James Financial, Inc. reaffirmed their outperform rating on shares of Carolina Financial Corporation (NASDAQ:CARO) in a report issued on Tuesday morning. The brokerage currently has a $42.00 target price on the financial services provider’s stock, up from their previous target price of $40.00.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated a buy rating and issued a $38.00 price target on shares of Carolina Financial Corporation in a research note on Friday, July 7th. BidaskClub upgraded shares of Carolina Financial Corporation from a hold rating to a buy rating in a research note on Thursday, July 6th. Brean Capital reiterated a buy rating on shares of Carolina Financial Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Carolina Financial Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, October 3rd. Finally, Stephens restated a hold rating and set a $34.00 price objective on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $37.75.

Shares of Carolina Financial Corporation (CARO) traded up 2.022% during midday trading on Tuesday, hitting $37.595. 80,470 shares of the stock traded hands. Carolina Financial Corporation has a 52-week low of $22.17 and a 52-week high of $39.60. The company has a market cap of $603.59 million, a price-to-earnings ratio of 20.691 and a beta of 0.46. The stock has a 50-day moving average of $35.79 and a 200-day moving average of $33.06.

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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 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, December 13th. This is an increase from Carolina Financial Corporation’s previous quarterly dividend of $0.04. Carolina Financial Corporation’s payout ratio is currently 8.74%.

In other news, Director Jeffery L. Deal sold 10,000 shares of Carolina Financial Corporation stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $33.53, for a total value of $335,300.00. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.23% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Advisor Group Inc. increased its holdings in shares of Carolina Financial Corporation by 826.4% in 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 increased its holdings in shares of Carolina Financial Corporation by 19.1% in 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. Capital Investment Advisory Services LLC acquired a new position in shares of Carolina Financial Corporation in the 3rd quarter valued at $212,000. American International Group Inc. increased its holdings in shares of Carolina Financial Corporation by 8.7% in 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. Finally, Nationwide Fund Advisors increased its holdings in shares of Carolina Financial Corporation by 4.4% in 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. 43.32% of the stock is currently owned by institutional investors and hedge funds.

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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