DA Davidson downgraded shares of Carolina Financial (NASDAQ:CARO) from a buy rating to a hold rating in a research note released on Monday, The Fly reports. DA Davidson currently has $44.65 price target on the financial services provider’s stock.

A number of other analysts have also weighed in on CARO. Stephens restated a hold rating and set a $38.00 price objective on shares of Carolina Financial in a research note on Monday, October 28th. Raymond James upgraded shares of Carolina Financial from an outperform rating to a strong-buy rating and set a $39.00 price objective for the company in a research note on Thursday, August 29th. ValuEngine lowered shares of Carolina Financial from a hold rating to a sell rating in a research note on Monday, October 21st. BidaskClub lowered shares of Carolina Financial from a buy rating to a hold rating in a research note on Saturday. Finally, Zacks Investment Research lowered shares of Carolina Financial from a buy rating to a hold rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $40.44.

NASDAQ:CARO traded up $0.35 on Monday, reaching $42.37. 438,748 shares of the stock traded hands, compared to its average volume of 60,816. The company has a market capitalization of $858.42 million, a price-to-earnings ratio of 14.81 and a beta of 1.01. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Carolina Financial has a 12 month low of $27.62 and a 12 month high of $42.58. The company’s fifty day simple moving average is $36.71 and its 200 day simple moving average is $35.49.

Carolina Financial (NASDAQ:CARO) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $48.90 million during the quarter, compared to analyst estimates of $46.60 million. Carolina Financial had a net margin of 28.30% and a return on equity of 11.13%. Equities analysts anticipate that Carolina Financial will post 2.96 EPS for the current fiscal year.

In other news, Director Ian T. Clark sold 3,228 shares of Carolina Financial stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $71.20, for a total value of $229,833.60. Also, EVP David L. Morrow sold 2,000 shares of Carolina Financial stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $72,700.00. Following the completion of the sale, the executive vice president now owns 117,292 shares of the company’s stock, valued at $4,263,564.20. The disclosure for this sale can be found here. Insiders sold 21,420 shares of company stock valued at $879,709 over the last quarter. Company insiders own 6.89% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank boosted its holdings in shares of Carolina Financial by 1.3% in the second quarter. Swiss National Bank now owns 39,600 shares of the financial services provider’s stock worth $1,390,000 after buying an additional 500 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Carolina Financial by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 38,296 shares of the financial services provider’s stock worth $1,344,000 after buying an additional 516 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Carolina Financial by 12.1% in the second quarter. JPMorgan Chase & Co. now owns 5,749 shares of the financial services provider’s stock worth $201,000 after buying an additional 621 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Carolina Financial in the second quarter worth approximately $30,000. Finally, Campbell Newman Asset Management Inc. boosted its holdings in shares of Carolina Financial by 8.0% in the second quarter. Campbell Newman Asset Management Inc. now owns 13,865 shares of the financial services provider’s stock worth $487,000 after buying an additional 1,029 shares during the last quarter. 57.99% of the stock is currently owned by institutional investors.

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: Treasury Bonds

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Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

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