Carolina Financial Corp (NASDAQ:CARO)’s share price hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $40.00 and last traded at $40.00, with a volume of 95661 shares trading hands. The stock had previously closed at $39.16.

The newly announced dividend which will be paid on Friday, April 6th. Investors of record on Tuesday, March 6th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. Carolina Financial’s dividend payout ratio is presently 11.43%.

A number of equities research analysts recently weighed in on CARO shares. Brean Capital restated a “buy” rating and issued a $40.00 target price on shares of Carolina Financial in a report on Friday, November 10th. ValuEngine lowered shares of Carolina Financial from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Zacks Investment Research upgraded shares of Carolina Financial from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Wednesday, January 3rd. Stephens restated a “hold” rating and issued a $43.00 target price on shares of Carolina Financial in a report on Friday. Finally, Raymond James Financial restated an “outperform” rating and issued a $42.00 target price (up previously from $40.00) on shares of Carolina Financial in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $41.67.

The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $823.23, a price-to-earnings ratio of 19.20 and a beta of 0.45.

Carolina Financial (NASDAQ:CARO) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. Carolina Financial had a net margin of 22.22% and a return on equity of 12.15%. The company had revenue of $37.50 million for the quarter, compared to analyst estimates of $34.33 million. equities research analysts expect that Carolina Financial Corp will post 2.7 earnings per share for the current year.

In other Carolina Financial news, Director Robert M. Moise sold 3,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $36.76, for a total value of $110,280.00. Following the completion of the sale, the director now directly owns 119,086 shares of the company’s stock, valued at approximately $4,377,601.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.23% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in Carolina Financial by 4.7% in the 3rd quarter. Janus Henderson Group PLC now owns 539,386 shares of the financial services provider’s stock worth $19,353,000 after purchasing an additional 24,010 shares in the last quarter. Vanguard Group Inc. grew its position in Carolina Financial by 17.4% in the 2nd quarter. Vanguard Group Inc. now owns 523,484 shares of the financial services provider’s stock worth $16,919,000 after purchasing an additional 77,678 shares in the last quarter. Northpointe Capital LLC grew its position in Carolina Financial by 2.5% in the 3rd quarter. Northpointe Capital LLC now owns 384,682 shares of the financial services provider’s stock worth $13,802,000 after purchasing an additional 9,467 shares in the last quarter. New York State Common Retirement Fund grew its position in Carolina Financial by 7.0% in the 2nd quarter. New York State Common Retirement Fund now owns 272,335 shares of the financial services provider’s stock worth $8,802,000 after purchasing an additional 17,714 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Carolina Financial by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 255,751 shares of the financial services provider’s stock worth $8,266,000 after purchasing an additional 9,371 shares in the last quarter. 34.43% of the stock is owned by institutional investors and hedge funds.

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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.

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